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First Mortgage Financial Glossary

What is it? A mortgage having priority over all other voluntary liens against the property. A first mortgage gives the lender a first claim against the owners rights in the property if the owner fails to meet the required payments on the mortgage.

Finance Term Definition Added By: Isaac

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We hope you now understand the meaning of First Mortgage. If you need any more information on this term, please don't hesitate to contact us.

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