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what is subordinate the second mean

what is subordinate the second mean

what is subordinate the second mean


Anonymous's picture
Anonymous
11-12-2015

1 Answers
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Loans are created in position - when the first goes away the second becomes the first If you are trying to refi the first you can only do this with the permission of the second mortgage holder Without their permission (the subordination agreement) they technically take over 1st position the instant the first is paid off.   Hope this helps and makes sense Brian Barnes Brian@aimwithfocus.com

Anonymous | Asked on 2015-12-14

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