piggyback loan |
|
Definition
Two loans on the same property, such as a first mortgage and second mortgage. The smaller or newer loan is usually junior (subordinated) to the larger or older loan.
email to a friend
print this definition
cite this definition
link to this page
piggyback loan is in the Banking, Commerce & Finance and Real Estate & Buildings subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/piggyback-loan.html