There are First Mortgages and Second Mortgages, the former designed to allow you to purchase the home or totally refinance the original loan; the latter, also known as a Home Equity Loan, allows you to use your available equity to take out a subordinate loan in addition to your First Mortgage.
Many powers belonging to the federal government are shared by state governments. Such powers are called concurrent powers. These include the power to tax, spend, and borrow money. State governments operate their own judicial systems, charter corporations, provide public education, and regulate property rights.
The principle that describes the sharing of powers between both national and state governments is the Federalism, to structure the constitution. The national government has th â¦ e powerv to delegate, the state governments has the power to reserve, and both governments have shared concurrent powers.he Articles of Confederation first used this idea of separation of powers between the federal and state governments, but the Constitution established the system of divisions â¦ present today. Demetria Bell.