Get the free Subordination Request Form - Boston Private

DATE: SUBORDINATION REQUEST FORM Requests can take up to 21 business days after a complete subordination package is received. ALL requests are processed in the order received. FOR FASTER TURNAROUND,

How to fill out subordination request form

1. Start by obtaining a copy of the subordination request form from the appropriate lending institution or mortgage company. This can usually be done online or by contacting the institution directly.
2. Carefully read and understand the instructions provided on the form. This will ensure that you provide all the necessary information and complete the form correctly.
3. Begin by providing your personal information, including your full name, contact details, and any other required identification information. This information is essential for the lender to identify the request and contact you if needed.
4. Fill in the details of your existing mortgage or loan. This may include the lender's name, the loan account number, and the current outstanding balance. Including accurate and complete information will help expedite the processing of your request.
5. Indicate the reason for your subordination request. It is important to provide a clear and concise explanation as to why you require subordination. Common reasons include refinancing, obtaining a home equity loan, or modifying the terms of your existing loan.
6. If applicable, provide details about the new or subordinate loan. This may include the lender's name, the loan amount, and the purpose of the new loan. Again, accuracy in providing this information is crucial for your request to be processed properly.
7. Sign and date the form. By signing, you certify that the information provided is accurate to the best of your knowledge and that you understand the consequences of obtaining a subordination.

Who needs a subordination request form?

1. Homeowners or borrowers who want to refinance their existing mortgage but need to prioritize the new loan above their current mortgage.
2. Individuals looking to obtain a home equity loan or line of credit, where the lender requires the existing mortgage to take priority over the new loan.
3. Borrowers who wish to modify the terms of their existing loan but require subordination to secure a new loan with better terms or lower interest rates.

In summary, to fill out a subordination request form, gather all the necessary information, provide accurate details about your existing and new loan, and explain why you need subordination. Sign and date the form to certify the accuracy of the information provided. Remember, a subordination request form is typically required when individuals want to refinance, obtain a new loan, or modify their existing loan while ensuring the priority of their existing mortgage.

For pdfFiller’s FAQs

What is subordination request form?

The subordination request form is a document used to request that a lien or a mortgage be placed in a lower priority in relation to another lien or mortgage.

Who is required to file subordination request form?

Typically, borrowers or property owners who are seeking to refinance their existing mortgages and have additional liens on the property are required to file a subordination request form.

How to fill out subordination request form?

The subordination request form typically requires information about the existing liens or mortgages, the new loan being taken out, and the reasons for requesting the subordination. This information should be filled out accurately and submitted to the appropriate party for review.

What is the purpose of subordination request form?

The purpose of the subordination request form is to formally request that a lien or mortgage be placed in a lower priority in order to allow a new loan to take precedence.

What information must be reported on subordination request form?

The information required on a subordination request form may vary, but typically includes details about the existing liens, the new loan being taken out, and the reasons for the subordination request.

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