Secondary Financing Law and Legal Definition
Secondary financing refers to a second-mortgage loan on an asset or property that already has one mortgage. In secondary financing, priority in settlement of claims is given to the earlier mortgage.
In commercial real estate transactions a second trust deed is often utilized to reduce the LTV (loan to value) of the first loan.
Legal Definition list
- Secondary Evidence
- Secondary Education Tech Prep Student [Education]
- Secondary Easement
- Secondary Drinking Water Regulation
- Secondary Document [Department of Transportation]
- Secondary Financing
- Secondary Franchise of a Corporation
- Secondary Liability
- Secondary Market
- Secondary Market Lending Authority
- Secondary Mortgage Market
Related Legal Terms
- 504 Financing
- Adult Secondary Education [Education]
- Blending of Financings
- Bond Financing Costs [Aeronautics and Space]
- Comprehensive Transition and Postsecondary Program [Education]
- Comprehensive Transition and Postsecondary Program for Students with Intellectual Disabilities [Education]
- Conduit Financing Issue [Internal Revenue]
- Contingent Financing Clause
- Credit Card Financing
