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Resources > Glossary > Second Mortgage

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Second Mortgage

Function: noun

A second mortgage is a mortgage in addition to whatever mortgage is already taken out on a particular property. Many borrowers do piggy back loans where they get a first mortgage and second mortgage all bundled together. That is also referred to as a combo loan or combination loan.

Thesaurus / Related Terms
First Mortgage
Subordination Agreement
Piggy Back Mortgage