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Subordination of Mortgage Policy Disclosure/Application
The Massachusetts Housing Finance Agency (Warehousing) will consider subordination of its mortgage liens which secure loans made
under the following
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What is subordination of mortgage policy?
The subordination of mortgage policy is a legal agreement that allows a borrower to refinance their first mortgage while keeping the existing second mortgage in place.
Who is required to file subordination of mortgage policy?
The borrower is typically required to file a subordination of mortgage policy.
How to fill out subordination of mortgage policy?
To fill out a subordination of mortgage policy, the borrower needs to provide information about their existing mortgages, the terms of the new mortgage, and any additional documentation required by the lender.
What is the purpose of subordination of mortgage policy?
The purpose of a subordination of mortgage policy is to establish the priority of multiple mortgages on a property, allowing a borrower to refinance without paying off their existing second mortgage.
What information must be reported on subordination of mortgage policy?
The information reported on a subordination of mortgage policy typically includes the property address, names of the mortgagor and mortgagee, loan amounts, interest rates, and any other relevant terms and conditions.
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