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Junior mortgage

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Junior mortgage
A mortgage that will be satisfied only after more senior mortgages have been satisfied. E.g., a first mortgage will be satisfied prior to a second or a third mortgage.
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a consulting concern, noted that VMS Mortgage Fund still had large exposure to junior mortgages -- in a tough real estate market.
Investors reeling after Pru-Bache 'guaranteed' investment goes bust: ... by Cole, Benjamin Mark / Los Angeles Business Journal
6 million of the junior mortgage loan (the "Junior Loan") encumbering the Property.
Prime Group Realty Trust Announces Refinancing of Continental Towers by Business Wire
The Operating Partnership also transferred its interest in the junior mortgage loan (the "Junior Loan") encumbering Continental Towers to Prime Equity.
Prime Group Realty Trust Announces Modifications to Continental ... by Business Wire
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