home equity loan |
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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.
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home equity loan is in the Banking, Commerce & Finance and Real Estate & Buildings subjects.
home equity loan appears in the definitions of the following terms: home equity debt and equity loan
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http://www.businessdictionary.com/definition/home-equity-loan.html