Related Words

Junior Lien-Mortgage: An obligation, such as a second mortgage, that is subordinate in right or lien priority to an existing lien (senior loan) on the same real estate.

Junior-Community College: A Junior/Community College is a two-year institution of higher education. Course offerings generally include a transfer curriculum with credits transferable toward a bachelor's degree at a f . . . View Full Definition

Subordinated Debt (Junior Debt): Debt over which senior debt takes priority. In the event of bankruptcy, subordinated debt-holders receive payment only after senior debt is paid in full. A subordination of security interest . . . View Full Definition

Junior Security: In the world of bonds, the term junior means having less claim to repayment. If you own a junior security and the issuing company goes out of business, you have less claim on any assets than . . . View Full Definition

Junior Mortgage: A mortgage that will be satisfied only after more senior mortgages have been satisfied. e.g., a first mortgage will be satisfied prior to a second or a third mortgage.

Junior Issue: A debt or equity issue from one corporation over which the issue of another firm takes precedence with respect to dividends, interest, principal, or security in the event of liquidation.

Junior Debt (Subordinate Debt): Debt whose holders have a claim on the firm's assets only after senior debtholder's claims have been satisfied. Subordinated debt.

Junior Refunding: Issuing of new securities to refinance government debt that matures in one to five years.