A second mortgage is a junior lien mortgage that is sometimes used to bridge the gap between the price of a property and the sum of the first mortgage and down payment.
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Q6: Unless stated otherwise,the borrower is personally liable
Q7: A non-recourse loan is one in which
Q8: A remainder cannot be mortgaged.
Q9: The process of confirming a plan of
Q10: It is a federal law that a
Q12: Junior liens are eliminated by a voluntary
Q13: If a property encumbered by a mortgage
Q14: A technical default can result from failure
Q15: Under lien theory,title and the right to
Q16: When a deed is given in lieu
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