A mortgage which ranks below another mortgage for payment in the event of the borrower's default.
Related information about junior mortgage:
- Junior Mortgage Definition | Investopedia
A junior mortgage often refers to a second mortgage, but it could also be a third or fourth mortgage. In the case of foreclosure, the senior mortgage will be paid ...
- What is a Junior Mortgage?
A junior mortgage, also called a second mortgage, is a type of loan that is lower in lien priority than a prior loan or lien. This second mortgage is granted after a ...
- Junior mortgage - The Free Dictionary
A mortgage taken out on property that already has one mortgage, with priority in settlement of claims given to the earlier mortgage.
- What is junior mortgage? - BusinessDictionary.com
Definition of junior mortgage: Second (or third) mortgage that is subordinate to the previous (senior) mortgages on the same property. In case of a default by the ...
- Junior Mortgage Law & Legal Definition
A junior mortgage is a mortgage which ranks behind another mortgage for payment in the event that the borrower defaults. It is a mortgage that is subordinate to ...
- What is junior mortgage? definition and meaning - InvestorWords.com
Definition of junior mortgage: A mortgage which ranks below another mortgage for payment in the event of the borrower's default.
- Junior mortgage - Merriam-Webster Online
a second, third, or later mortgage. This word doesn't usually appear in our free dictionary, but the definition from our premium Unabridged Dictionary is offered ...
- What is JUNIOR MORTGAGE? - The Law Dictionary
Definition of JUNIOR MORTGAGE: Mortgage subordinate to a previous, senior mortgage on the same property. Regardless of the situation or action taken, the ...