SECOND OR JUNIOR MORTGAGE PAYMENT
The data on second or junior mortgage payments were obtained from questionnaire items H24a and H24b, which were asked at owner-occupied one-family houses, condominiums, and mobile homes. Question H24a asks whether a second or junior mortgage or a home equity loan exists on the property. Question H24b provides the regular monthly amount required to be paid to the lender on all second or junior mortgages and home equity loans. Amounts are included even if the payments are delinquent or paid by someone else. The amounts reported are included in the computation of "Selected Monthly Owner Costs" and "Selected Monthly Owner Costs as a Percentage of Household Income in 1989" for units with a mortgage.

All mortgages other than first mortgages are classified as "junior" mortgages. A second mortgage is a junior mortgage that gives the lender a claim against the property that is second to the claim of the holder of the first mortgage. Any other junior mortgage(s) would be subordinate to the second mortgage. A home equity loan is a line of credit available to the borrower that is secured by real estate. It may be placed on a property that already has a first or second mortgage, or it may be placed on a property that is owned free and clear.

If the respondents answered that no first mortgage existed, but a second mortgage did (as in the above case with a home equity loan), a computer edit assigned the unit a first mortgage and made the first mortgage monthly payment the amount reported in the second mortgage. The second mortgage data were then made "No" in question H24a and blank in question H24b.

Comparability--The 1980 census obtained total regular monthly mortgage payments, including payments on second or junior mortgages, from one single question. Two questions were used in 1990: one for regular monthly payments on first mortgages, and one for regular monthly payments on second or junior mortgages and home equity loans.

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