- junior mortgage
- A mortgage over which another mortgage has priority in law.
Ballentine's law dictionary. Anderson, W.S.. 1998.
junior mortgage
Look at other dictionaries:
Junior Mortgage — A mortgage that is subordinate to a first or prior (senior) mortgage. 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 down first.… … Investment dictionary
junior mortgage — A mortgage that will be satisfied only after more senior mortgages have been satisfied. E.g., a first mortgage will be satisfied prior to a second or a third mortgage. Bloomberg Financial Dictionary … Financial and business terms
junior mortgage — /ˌdʒu:niə mɔ:gɪdʒ/ noun a second mortgage … Dictionary of banking and finance
junior mortgage — noun : a second, third, or later mortgage … Useful english dictionary
mortgage — mort·gage 1 / mȯr gij/ n [Anglo French, from Old French, from mort dead (from Latin mortuus ) + gage security] 1 a: a conveyance of title to property that is given to secure an obligation (as a debt) and that is defeated upon payment or… … Law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage — /morgaj/ A mortgage is an interest in land created by a written instrument providing security for the performance of a duty or the payment of a debt. At common law, an estate created by a conveyance absolute in its form, but intended to secure… … Black's law dictionary
mortgage bond — In the USA, a bond in which a debt is secured by a real asset (land or property). Senior mortgage bonds have first claim on assets and junior mortgage bonds are subordinate. A mortgage bond may have a closed end provision, which prevents an… … Accounting dictionary
mortgage bond — In the USA, a bond in which a debt is secured by a real asset (land or property). Senior mortgage bonds have first claim on assets and junior mortgage bonds are subordinate. A mortgage bond may have a closed end provision, which prevents an… … Big dictionary of business and management
mortgage-backed security — A kind of investment backed by mortgage loans that have been packaged into pools in the secondary mortgage market. Payments on the mortgages generate the return on investment for the people who invest in these securities. Category: Bankruptcy,… … Law dictionary
