New York Subordination of Mortgage Agreement

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Under the Subordination Agreement, the holder of a first mortgage on a property (the original lender) agrees to allow its mortgage to be subordinated to a new mortgage being placed on the property.
The new mortgage will become the first charge.
The purpose of the agreement is to induce the new lender to approve the new mortgage.
Available in MS Word format and fully editable.
Intended to be used only in the State of New York.

Download Type:

Microsoft Word