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.
Definitions for concurrent powers. Concurrent powers. Concurrent powers are powers in nations with a federal system of government that are shared by both the State and the federal government. They may be exercised simultaneously within the same territory and in relation to the same body of citizens. They are contrasted with reserved powers. Examples of the concurrent powers enjoyed by both the federal and State governments are: the power to tax, build roads, establish bankruptcy laws, and to create lower courts.