A silent second mortgage is a secondary loan placed on an asset without the knowledge of the primary lender. This practice is common in charitable organizations for down payment assistance or fraudulently to procure higher loan values.
With over 3,000 definitions (and 30,000 Quizes!), our Lexicon of Real Estate Terms equips buyers, sellers, and professionals with the knowledge needed to thrive in the real estate market. Empower your journey today!