A home equity loan may also be referred to as a ________ mortgage.

Name: A home equity loan may also be referred to as a ________ mortgage.
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A home equity loan is often referred to as a second mortgage because it is a loan secured against the value of your home, similar to your primary mortgage but in a secondary position. This means if the home goes into foreclosure, the primary mortgage gets paid off first before any payments are made towards the second mortgage or home equity loan.

A Home Equity Loan May Also Be Referred to as a ________