408.231. Definitions.
Definitions.
408.231. 1. A "second mortgage loan" shall mean a loansecured in whole or in part by a lien upon any interest inresidential real estate created by a security instrument,including a mortgage, trust deed, or other similar instrument ordocument, which provides for interest to be calculated at therate allowed by the provisions of section 408.232, whichresidential real estate is subject to one or more prior mortgageloans.
2. "Principal" of a second mortgage loan means the total ofthe net amount paid to, receivable by, contracted for, or paid orpayable for the account of the borrower, and to the extentpayment is deferred, additional charges permitted by section408.233.
3. "Residential real estate" shall mean any real estateused or intended to be used as a residence by not more than fourfamilies, notwithstanding the provisions of section 408.015.
(L. 1979 S.B. 305, A.L. 1980 H.B. 1195, A.L. 1981 S.B. 5 Revision, A.L. 1985 S.B. 183, A.L. 1986 S.B. 667, A.L. 1994 H.B. 1312 merged with S.B. 718)