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GENIUS CREDIT UNION SUBORDINATION REQUIREMENTSName and Address of Borrower Account number/loan number Lenders name & address that goes on the subordination document Address of where to return the
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How to fill out genisys credit union subordination

01
To fill out a Genisys Credit Union subordination form, follow these steps:
02
Start by downloading the Genisys Credit Union subordination form from their official website or visit a local branch to obtain a hardcopy.
03
Read the form carefully and make sure you understand the purpose and requirements of subordination.
04
Fill in your personal information, including your name, address, phone number, and email address.
05
Provide the details of the original loan, such as the loan number, loan amount, and the property address associated with the loan.
06
Indicate the reason for the subordination request and provide any supporting documents if required.
07
If there is a new loan involved, provide the information about the new loan, including the loan amount, lender's name, and contact information.
08
Fill out any additional information requested on the form, such as the signatures of all borrowers and any other relevant parties.
09
Review the completed form to ensure all the information provided is accurate and complete.
10
Submit the filled-out subordination form to Genisys Credit Union either in person at a branch or by mailing it to the address provided on the form.
11
Wait for confirmation from Genisys Credit Union regarding the status of your subordination request.

Who needs genisys credit union subordination?

01
Genisys Credit Union subordination may be required by individuals or entities who have an existing loan with Genisys Credit Union and need to subordinate their loan to a new loan.
02
This includes borrowers who want to refinance their property, apply for a home equity loan or line of credit, or any situation where they need to obtain a new loan while keeping the existing loan in a secondary position.
03
Subordinating a Genisys Credit Union loan allows the new loan to take priority over the existing loan when it comes to repayment and other financial matters.

What is GENISYS CREDIT UNION SUBORDINATION REQUIREMENTS Form?

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Genisys Credit Union subordination is a process where the credit union agrees to allow another lender to take priority in case of default.
Borrowers who have multiple loans secured by the same property may be required to file Genisys Credit Union subordination.
To fill out Genisys Credit Union subordination, borrowers typically need to submit a formal request to the credit union outlining the details of the new loan and the existing loan.
The purpose of Genisys Credit Union subordination is to establish the priority of different lenders in case of default or foreclosure.
Genisys Credit Union subordination typically requires details of the new loan, the existing loan, and the property in question.
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