Buyers can obtain second loans {second mortgage} on real property. Second mortgages are risky to lender, because first-mortgage mortgagee has first right to money. People can obtain second mortgages if borrower's credit is excellent or real-property value is more than both mortgages together. Second mortgages have higher interest rates.
Practical Affairs>Legal Affairs>Property>Housing>Buying>Mortgage
7-Legal Affairs-Property-Housing-Buying-Mortgage
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Date Modified: 2022.0224