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first mortgage
(redirected from First Mortgages)

   Also found in: Financial, Encyclopedia 0.01 sec.
first mortgage
n
(Economics, Accounting & Finance / Banking & Finance) a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities
ThesaurusLegend:  Synonyms Related Words Antonyms
Noun1.first mortgage - a mortgage that has priority over all mortgages and liens except those imposed by law
mortgage - a conditional conveyance of property as security for the repayment of a loan


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Foreclosure generally happens only to first mortgages as it is normally the first mortgage company that initiates the process.
The company has bought discounted first mortgages, B notes and mezzanine interests.
The fact that refinanced first mortgages are larger due to debt consolidation and equity cash out underscores the need for improved customer retention efforts," notes Marple.
 
 
 
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