Subordination of Mortgage Agreement (New York)

New York lenders, prepare a Subordination of Mortgage Agreement with this template form. 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, which will become the new first mortgage. This New York Subordination of Mortgage form is in MS Word format and is fully editable.