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Document Id : 7246
File Type : Microsoft Word
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USA Subordination Agreement
Prepare a Subordination Agreement between a mortgage lender (mortgagee) and a home owner with this template form for the USA.
- The mortgagee agrees to subordinate its security interest under a mortgage on the owner's property to another loan, which will allow the second loan to take priority to the first mortgage until the second loan has been paid off.
- The first mortgage will remain a lien on the property.
- The second lender will notify the mortgagee of any default by the owner in payment on the second loan.
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