英语词汇“junior mortgage”的翻译、意思、用法、释义-英汉经管词典

单词	junior mortgage
释义	junior mortgage Definition Second (or third) mortgage that is subordinate to the previous (senior) mortgages on the same property. In case of a default by the mortgagor (borrower), the senior mortgagee(s) will have to be paid off first, before the junior mortgagee(s) can get any money from the proceeds of the mortgaged property's sale. For this reason, junior mortgage interest rates are usually higher.
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