What Is Second Mortgage?
A second mortgage is any loan secured by a home that's subordinate to an existing first mortgage — including HELOCs and home equity loans — meaning the first lender gets paid first if the home is sold or foreclosed on.
A second mortgage is any loan secured by a home that's subordinate to an existing first mortgage — including HELOCs and home equity loans — meaning the first lender gets paid first if the home is sold or foreclosed on.