If a property owner executes a junior mortgage on a parcel with an existing mortgage,the junior mortgage is superior to the first.

Question

Quizplus · Accepted Answer

A junior mortgage is a second mortgage that is subordinate to the first or primary mortgage on a property. This means that in the event of default, the first mortgage holder has priority over the junior mortgage holder in terms of repayment.

If a Property Owner Executes a Junior Mortgage on a Parcel