Does anyone know what resubordinate means, as in reguards to refinancing a mortgage?

Question by Therena: Does anyone know what resubordinate means, as in reguards to refinancing a mortgage?

Best answer:

Answer by ~Trey
Hi Therena,

It means that a second lien holder is kept in that particular position if the first changes in any way.

For Example, If you have a first mortgage and a second mortgage and you just refinanced the first, you would then re-subordinate the second to leave it alone.

I hope this helps
~Trey

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