A second mortgage loan is a type of secured loan that allows homeowners to borrow money against the equity in their property, even if they already have an existing mortgage. It is called a "second" mortgage because it is subordinate to the first mortgage, meaning the primary lender is paid first in the event of a default or property sale. #secondmortgageloan #secondmortgages https://securedcapital.com.au/second-mortgages/
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