Mar 09 , 2016

Tampa School of Real Estate

Junior Mortgage

Definition:   A mortgage, such as a second mortgage, that is subordinate in right or lien priority to an existing mortgage on the same real property.

Pronunciation:   \ˈjün-yər\ \ˈmȯr-gij\

Used in a Sentence:   The second mortgage on the property is considered a junior mortgage.

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