World's Largest Mortgage Community

what determines who owns a 1st or 2nd mortgage

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
mpbur Joined: 09 Mar 2009 Posts: 1 1.26 Dollars($)	Posted: Mon Mar 09, 2009 1:22 pm    Post subject: what determines who owns a 1st or 2nd mortgage I sold a property and carried back a small mortgage. The local bank has the larger amount of mortgage. My mortgage was recorded 1st at the register of deeds office in Michigan. Do I have a 1st mortgage or a 2nd???
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 9705 Location: bloomfield, ct 27.22 Dollars($)	Posted: Mon Mar 09, 2009 2:05 pm    Post subject: first is first, second is second...the order of recordation determines who is first and who is second. _________________ George M. Akerley Loan Consultant 860-221-5044

Quick Reply
Your Name
Subject
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0