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The phrase "a second mortgage" is correct and usable in written English.
It can be used when referring to a loan taken out against a property that already has a primary mortgage.
Example: "To finance the home renovation, we decided to take out a second mortgage on our house."
Alternatives: "subordinate mortgage" or "junior mortgage."
Exact(60)
His father took out a second mortgage.
What if I have a second mortgage?
And if not, there's always a second mortgage.
I finger dresses I'd need a second mortgage to buy.
They have probably paid off their mortgages, right; they could go get a second mortgage.
A man who took out a second mortgage to buy the first CT scanner in Florida?
That's the football equivalent of taking out a second mortgage to buy another speedboat.
Yet there are ways to do so without the need for a second mortgage.
To survive this campaign financially, the Obamas will take out a second mortgage on their apartment.
"Didn't know you could get a second mortgage on a trailer," somebody else said.
Such deals let Greece continue deficit spending, like a consumer with a second mortgage.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com