logo
logo
Sign in

Why 2nd Mortgages Are A Small Business Lifesaver

avatar
LoansOne
Why 2nd Mortgages Are A Small Business Lifesaver

These are loans taken against properties with existing (primary) mortgages. The term itself, secondary, explains that the obligation of the lender who accepts the 2nd mortgage agrees to be second in line to a lender who has the primary mortgage. In effect, a primary lender or mortgagor has the right to run after the borrower’s obligations first before the 2nd mortgagor would be given a chance to do so. Read more Why 2nd Mortgages Are A Small Business Lifesaver.

collect
0
avatar
LoansOne
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more