Finance
What is 'secondary financing' in Delaware?
AA second loan taken out to finance improvements after the original purchase
BA subordinate loan (second mortgage or HELOC) that is junior to the first mortgage in lien priority✓ Correct
CFinancing provided by a secondary party after the primary lender declines
DA state subsidy program for second-home buyers
Explanation
Secondary financing refers to any loan subordinate to the first (primary) mortgage in terms of lien priority. Second mortgages, HELOCs, and seller carry-back notes are all forms of secondary financing.
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