Posted on: 14th Apr, 2011 01:13 pm
I buy and sell 2nd mortgages. I currently hold a 2nd position mortgage on a property in Wash DC. The first mortgage holder (the bank) never recorded their mortgage which essentially puts me in first position. Can the 1st force me to sign a subordination agreement and what are my options?
Hi peiseman!
Welcome to forums!
I don't think the first mortgage lender will be able to force you to sign a subordination agreement. If they do so, you may be able to take legal actions against them.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I don't think the first mortgage lender will be able to force you to sign a subordination agreement. If they do so, you may be able to take legal actions against them.
Feel free to ask if you've further queries.
Sussane