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.
For example, the federal and state governments collect taxes to fund their needs. Another example of shared power is the national and state levels using and maintaining law enforcement to prevent the same type of crimes. http://www.ehow.com/facts_7728401_separa... Reserved powers are those powers reserved for the states and not the federal government by the Tenth Amendment of the Constitution. *CONCURRENT POWERS*. Concurrent powers are the powers in nations with a federal system of government like the U.S. that are shared by both the State and the federal government.