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How do you mortgage subordinate?

In: Loans, Mortgages, Home Equity and Refinancing, Liens, Money Management [Edit categories]

Answer:

You can't subordinate a mortgage. One bank, the senior lender, sometimes subordinates their mortgage to a bank who is giving the homeowner a new mortgage. The subordination gives the new mortgage first place and the old mortgage becomes the second mortgage.

First answer by Kluss. Last edit by Kluss. Contributor trust: 692 [recommend contributor ]. Question popularity: 2 [recommend question].

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