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Second mortgages pledged against bond's security are referred as

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Financial Management
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Second mortgages pledged against bond's security are referred as

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Correct Answer: Option D
Second mortgages pledged against bond's security are referred as junior mortgages. A junior mortgage is a mortgage that is subordinate to a first or prior (senior) mortgage. A junior mortgage often refers to a second mortgage, but it could also be a third or fourth mortgage. In the case of foreclosure, the senior mortgage will be paid down first.
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