Subordinate Financing  Mortgage Glossary

Mortgage Glossary

Below is an A-Z glossary of general terms used within the mortgage industry. Click on any term to view a detailed explanation. Use the alphabet below to navigate quickly to a term beginning with:



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Subordinate Financing

When a property has a second mortgage on it and the borrower pays off the first mortgage but the second mortgage stays in place, it will be necessary for the second mortgage to become subordinate to any new first mortgage. This event is normally covered in the terms and conditions of the second mortgage.

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Mortgage Glossary

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