A Subordination Agreement Mortgage

A subordination agreement is a legal document that establishes that one debt is ranked behind another in priority for the recovery of a debtor`s repayment. Debt priority can become extremely important when a debtor is in arrears with payments or goes bankrupt. Subordination only exists in certain situations in the mortgage process, but it`s always helpful to be familiar with the meanings and importance it might have for your real estate financing. . . .