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.
State and Local Governments. Each state has its own constitution that runs the laws of the state that are not covered by the federal government. The 10th amendment to the US Constitution states that all powers not granted to the federal government are given to the states and the people. Today, all the states governments are modeled after the federal government.