What is a subordination agreement?

Answer A subordination agreement is document used to rearrange or prioritize the filing order of mortgages. This document, once filed, can make a second mortgage move from first place in filing status bac... Read More »

Top Q&A For: What is a subordination agreement

What is a mortgage subordination?

A mortgage subordination occurs when the lender who has the first lien on a piece of property agrees to take the second lien position and allow another lender to occupy the first position.Reference... Read More »

What does subordination of homestead mean?

Homestead exemptions protect homes from creditors, home loss due to a spouse's death, and certain property taxes. When refinancing a mortgage, any existing homestead protection is subordinated, or ... Read More »

How to Prepare Subordination Agreements?

A subordination agreement is a contract between a property owner and a lender. The lender agrees to subordinate an existing loan to a new loan. This gives the priority to the new loan for payoffs o... Read More »

Washington Mutual Subordination Checklist?

A subordination agreement is used when making one mortgage inferior to another mortgage. It is a legal document that allows one party to claim junior to another party. This is most commonly used in... Read More »