What is Subordination Agreement?
This document alters the priority of existing liens against the property, such as an existing HELOC or second mortgage, ensuring that the new Deed of Trust will be placed in first position on the title of the property. There may be multiple subordination agreements. This document requires notarization. This document will usually have notarized signatures from the entity that is agreeing to the terms of the subordination agreement. Notarization of the Borrower(s) signature must also be completed on the agreement.
