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Very simply, second mortgages are additional loans that are taken out against the same property. Let’s take for instance that your home has an existing mortgage on it, and you take out another loan on your home, the second loan is referred to as the second mortgage to the property. Contact me today @ 647-492-6685 for personalized, professional advice at no cost to you. For more information kindly visit our website http://torontomortgagerates.net/.