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.
Register for FREE to remove ads and unlock more features! Register for FREE to remove ads and unlock more features! Concurrent powers are the powers that are shared by both the State and the federal government, exercised simultaneously. Describe concurrent powers and how they are exercised in the federal system. Concurrent powers may be exercised simultaneously within the same territory and in relation to the same body of citizens.