Lenders extend this as an open first or second mortgage on a property for one year. (mortgagebrokerstore.com)
Solar panels are also commonly financed by placing second mortgages on the property. (nar.realtor)
This means that if you had $ 50,000 left on your first mortgage as of that date, and had taken out a $ 25,000 second mortgage on the property prior to October 14,1987, you would have an acquisition indebtedness of $ 75,000. (mortgage-x.com)