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' Servicing agent, Shared appreciation mortgage, Servicing release premium, Simple interest mortgage, Shopping site
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 | 