| 词汇 | first-mortgage |
| 释义 | first mortgage noun[ C ] ukus PROPERTY, FINANCE if a person or financial organization has a first mortgage on a property, they have the right to be paid first if its owner fails to pay back money they have borrowed to buy the property: If he loses his house, proceeds from its sale would go toward paying off the first mortgage. Examples of first mortgagefirst mortgage A firstmortgage of $4,050,000 was given in 1929. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. A similar property with a value of $100,000 with a firstmortgage of $50,000 and a second mortgage of $25,000 has an aggregate mortgage balance of $75,000. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. The monthly payments are made by the buyer to the seller, who then continues to pay the firstmortgage with the proceeds. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. The majority of its loans are in three categories: senior asset-based, cash-flow, and firstmortgage loans. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. At the same time share capital rose to 12,000 and the current mortgages and debenture were repaid in favour of a new firstmortgage. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. This is due if the loan goes into default, the firstmortgage gets paid off first before the second mortgage. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. It was the firstmortgage loan that was fully amortized (fully paid at the end of the loan) precluding successive loans, and had fixed interest rates and payments. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. The term is commonly used by banks and building societies to represent the ratio of the first mortgage lien as a percentage of the total appraised value of real property. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. If the holder of the second mortgage does not subordinate the lien of its mortgage to the new mortgage, the new lender will not refinance the firstmortgage. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. They are analogous to the costs incurred in the foreclosure of the firstmortgage, which have the same priority as the mortgage itself over subsequent encumbrances. From Wikipedia This example is from Wikipedia and may be reused under a CC BY-SA license. These examples are from corpora and from sources on the web. Any opinions in the examples do not represent the opinion of the Cambridge Dictionary editors or of Cambridge University Press or its licensors. |
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