first mortgage


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first mortgage

n
(Banking & Finance) a mortgage that has priority over other mortgages on the same property, except for taxation and other statutory liabilities
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
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
7 million first mortgage and $500,000 line of credit for Elmhurst Towers Apartments, Inc.
173,206,504 The Health and Educational Facilities Board of the City of Johnson City, TN hospital first mortgage revenue bonds (Mountain States Health Alliance) series 2006A;
5 million first mortgage and $1 million line of credit for Maple Plaza Housing Development Fund Corporation, a 154-unit co-op at 1911-1929 Madison Avenue in Manhattan.
MINNEAPOLIS -- TopLine Federal Credit Union announced today that it has hired Mary Wetterlin as General Manager to develop and implement a new first mortgage division at its Maple Grove, Minnesota, headquarters.
6 million during the month, including the largest loan, a $19 million first mortgage and $1 million line of credit for Birchwood Glen Owners Corp.
First mortgage of $405,000 on a 3 story walkup mixed use building in East Flatbush Brooklyn.
148,030,000 The Health and Educational Facilities Board of the City of Johnson City, TN hospital first mortgage revenue bonds (Mountain States Health Alliance) series 2006A;
First mortgage of $675,000 on a 3 story walkup multi-family building totaling 6 units in the South Bushwick/Ocean Hill section of Brooklyn.
National Cooperative Bank (NCB) originated $68 million in new loans during April for 24 New York area properties: Edward Howe III, managing director of the NCB New York office, originated $50 million in new loans during April, as well as the largest loan of the month, a $6 million first mortgage for a 146-unit co-op at 142 East 16th Street in Manhattan.