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Catchword for “silent second”
Catchword: silent second
Gloss: Someone who loans money to someone else in order to buy a home, usually to make them look like a good risk, without notifying the prime lender.
Filed under: ,
Part of speech: n.
Quotation: The holdback could be considered what is known as a silent second, which is illegal. Many private lenders have gone to jail in the past because they lent money to a homebuyer to assist in the purchase but did not advise the prime lender of this fact.
Article or document title:
“Owners have options in lease-to-own deals” (URL)
Author:
Benny L. Kass
Article, document, publication, web site:
Richmond Times-Dispatch
Publishing location:
Virginia
Date of publication:
Mar. 8, 2009
This catchword has yet to be researched.
Posted 10 Mar 09 | Permalink | Tell a Friend

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