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What is a farm loan?
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19th Nov 2009 by Burt Carlson
In real estate a junior loan (Lien) is junior or subordinate to the senior or first loan (lien). It is often referred to as the second mortgage. The first mortgage is usually much larger than a junior lien and in the event of default the first is in a stronger position than any subordinate loans/liens. A typical second lien is a Home Equity Line of Credit.
In real estate a junior loan (Lien) is junior or subordinate to the senior or first loan (lien). It is often referred to as the second mortgage. The first mortgage is usually much larger than a junior lien and in the event of default the first is in a stronger position than any subordinate loans/liens. A typical second lien is a Home Equity Line of Credit.
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17th Nov 2009 In Finance
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Subjects: farm loan,