home equity loan

Definition

Typically, a second mortgage loan secured by the home equity of the borrower. in case of a default, the first (senior) mortgagee is paid before the second (junior) mortgagee can get anything. Also called home equity debt.

Popular 'Banking, Commerce & Finance' Terms

home equity loan in the news

Loading...

This content can be found on the following page:

http://www.businessdictionary.com/definition/home-equity-loan.html

Search for another term



Tools

home equity loan is...

... in the Banking, Commerce & Finance and Real Estate & Buildings subjects.

Nearby Terms

Search volume for home equity loan

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z