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what determines who owns a 1st or 2nd mortgage

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mpbur Joined: 09 Mar 2009 Posts: 1 1.26 Dollars($)	Posted: Mon Mar 09, 2009 1:22 pm    Post subject: what determines who owns a 1st or 2nd mortgage Like 0 Dislike 0 I sold a property and carried back a small mortgage. The local bank has the larger amount of mortgage. My mortgage was recorded 1st at the register of deeds office in Michigan. Do I have a 1st mortgage or a 2nd???
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12346 Location: bloomfield, ct 53.01 Dollars($)	Posted: Mon Mar 09, 2009 2:05 pm    Post subject: Like 0 Dislike 0 first is first, second is second...the order of recordation determines who is first and who is second. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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