by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate finance, a second mortgage is a loan secured by a mortgage that has a lower priority than an existing first mortgage. Its lien ranks after the first mortgage in terms of legal precedence. Because a second mortgage is subordinate to the first, it carries...
by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate finance, the secondary mortgage market is the marketplace in which existing first mortgages or deeds of trust are bought and sold. This market allows lenders to convert mortgage loans into cash, enabling them to replenish funds for new lending....
by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate finance, secondary financing refers to a loan secured by a mortgage or deed of trust that is junior in priority to an existing primary loan. The lien securing the secondary loan is subordinate to the first mortgage or trust deed. Because secondary...
by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate and legal practice, satisfaction refers to the discharge of an obligation through full payment of the amount due. It commonly applies to the payoff of a mortgage or deed of trust or the payment of a debt established by a judgment. Once an obligation is...
by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate and building construction, a sash is the frame that holds one or more panes of glass in a window. Sashes are typically made of wood, metal, or other durable materials. The sash fits within the window frame and may be fixed or operable, allowing the...
by Ethan Atkinson | Feb 10, 2026 | P-T, PropertyPedia
In real estate appraisal and taxation, salvage value refers to the estimated fair market value of a property or improvement at the end of its useful life. It represents the amount that is reasonably anticipated to be recoverable when the property is no longer...
