His aunt offered to pay off the debt by taking out a second mortgage on her house. (huffingtonpost.com)
The bank offered a loan at a low rate to pay off her high - interest credit card debt, and she ended up taking out a second mortgage for $ 80,000. (canadianbusiness.com)
[80] This housing bubble resulted in many homeowners refinancing their homes at lower interest rates, or financing consumer spending by taking out second mortgages secured by the price appreciation. (en.wikipedia.org)