first mortgage


Also found in: Thesaurus, Financial, Encyclopedia.
Related to first mortgage: First Time Home Buyer

first mortgage

n
(Banking & Finance) a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
ThesaurusAntonymsRelated WordsSynonymsLegend:
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
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in classic literature ?
Within the year Nellie married Bert Mall, Peter's eldest son, and Martin, at once, bought out her half interest in the farm, stock and implements, giving a first mortgage to Robinson in order to pay cash.
In fact, the Saillards did not know how better to manage their savings than to carry them, five thousand francs at a time, to their notary, Monsieur Sorbier, Cardot's predecessor, and let him invest them at five per cent in first mortgages, with the wife's rights reserved in case the borrower was married!
19 June 2019 - UK-based consumer intermediary Mortgage Advice Bureau (Holdings) plc (AIM: MAB1) has agreed to acquire 80% of the entire issued share capital of UK-based mortgage broker First Mortgage Direct Ltd.
M2 EQUITYBITES-June 19, 2019-Mortgage Advice Bureau Acquires 80% Stake in UK Broker First Mortgage
Jerry Houlihan of Houlihan-Parnes Properties, with its affiliate mortgage servicing company H-P Capital LLC, has arranged the placement of first mortgage bridge loans for the following properties in the New York/Connecticut area:
Alternatively, homeowners with equity can take out a new second mortgage to pay off the short-term debt, and leave the first mortgage alone.
Global Banking News-December 13, 2017--Wintrust to acquire Veterans First Mortgage
In most cases, a first mortgage carries the most attractive available rate, so that refinancing is often the best choice for raising a large amount of new funds.
* A $7,800,000 bridge loan collateralized by a first mortgage on a package of nine multi-family properties located on Regent Place, Bedford Avenue, East 18th Street, East 21st Street and East 22nd Streets in Brooklyn, NY.
said that its subsidiary, Barrington Bank & Trust Company, through its division Wintrust Mortgage, closed on its previously disclosed agreement, acquiring certain assets and assuming certain liabilities of iFreedom Direct Corporation DBA Veterans First Mortgage, a Utah Corp.