A second loan placed upon a piece of property. A mortgage registered against real property which is already encumbered with one mortgage. Date and time of registration determines which is first and …
Secondary Mortgage Market
A market of packaged home loans that are resold as securities to investors. Major players in this market are Fannie Mae and Freddie Mac. …
Secured Loan
A loan backed by collateral. …
Security
A piece of property designated as collateral. …
Seller Carry-Back
An agreement in which the seller provides financing for a home purchase.Exploring Seller Carry-Back: A Unique Real Estate Financing OptionSeller carry-back is an unconventional financing …
Rural Housing Service
A U.S. Department of Agriculture program that provides financing to farmers and certain borrowers to purchase rural property when other funds are not available. …