Subordinate financing
Definition
A second mortgage on the property which is not paid off when a new loan is taken out. The second mortgage lender must allow subordination of the second to the new first mortgage.
Related Terms Other terms related to 'Subordinate financing' starting with the letter 'S' Self employed borrower, Servicing, Shared appreciation mortgage, Simple interest biweekly mortgage, Servicing release premium Browse by Letter » 1 4 A B C D E F G H I J L M N O P Q R S T U V W Y | 