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Second Mortgage

In real estate, a property can have multiple mortgages secured against it. The loan or mortgage that is registered first is called the first mortgage. The loan that is registered second is called the second mortgage and is subordinate to the first mortgage. There is no limit to the number of mortgages that can be registered over the title to a security property. Second mortgages are called subordinate because, if the loan goes into default, the first mortgagee gets paid out first before the second mortgage. Read More

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  • China’s yuan weakens despite state banks’ dollar sales
    China’s yuan weakens despite state banks’ dollar sales

    (Source: CNBC) SHANGHAI, May 11 (Reuters) – China’s yuan weakened against the U.S. dollar on Thursday, despite major state-owned banks offering dollar liquidity to meet corporate demand for the greenback, traders said. The People’s Bank of China set the midpoint rate at 6.9051 yuan per dollar prior to market open, with the yuan marginally firmer…

  • Easter Holiday
    Easter Holiday

    We will close from Good Friday 14th April to Easter Monday 17th April for Easter Holiday, and back to work on Tuesday 18th April 2017.   Wish you a happy Easter!

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