USA Subordination Agreement
Allow a second mortgage priority over an existing mortgage under this Subordination Agreement template.
- This legal form is governed by United States laws.
- The first mortgagee agrees to subordinate its security interest on the owner's property to a second loan and allow the second loan to take priority until it is paid off.
- The first mortgage will remain as a lien and charge on the property.
- The second lender will notify the mortgagee of any default by the owner in payment on the second loan.
You can download this USA Subordination Agreement immediately after you purchase it.