second mortgage

Her father, a machinist originally from Appalachia, gave her $1 for every poem she memorized, put a second mortgage on the family home to pay her college costs and wept at her graduation.

The jury announced a split verdict Tuesday evening after deliberating most of the day, finding Mosby not guilty on a second mortgage fraud charge, The Baltimore Sun reported.

They’re treated as second mortgages, but require no payments of any kind until the home is refinanced, resold or its first mortgage paid off, at which point the state loan must be repaid in full.

By the time the lawsuit settled, Enstad had already moved forward with top surgery, which his family funded by getting a second mortgage and dipping into his college funds.

When you have this type of debt, you are required to satisfy the first mortgage as well as any second mortgages or liens before you are able to sell your home.