Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “second mortgage”

second mortgage

noun [C]
 
 
( also remortgage, also US home equity loan) FINANCE, PROPERTY
a loan that someone gets using their property as security (= an asset that the lender can take if the loan is not paid back), when they have already used this type of loan to buy the property: The bank offers a 20-year, fixed-rate second mortgage option at an amount up to 4% of the appraised value of the home.
(Definition of second mortgage from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of second mortgage?
Add Cambridge dictionaries to your browser to your website

Word of the Day

thug

a man who acts violently, especially to commit a crime

Word of the Day

The way we move (Verbs for walking and running)

by Kate Woodford,
March 25, 2015
​​​ This week we’re looking at interesting ways to describe the way that people move. Most of the verbs that we’ll be considering describe how fast or slow people move. Others describe the attitude or state of mind of the person walking or running. Some describe both. Starting with verbs for walking slowly,

Read More 

crossfit noun

March 23, 2015
high-intensity strength training Two women in strappy dresses discussed how much weight they could snatch

Read More