Definition: a clause in which the holder of a mortgage permits a subsequent mortgage to take priority
Pronunciation: \sə-ˈbȯr-də-ˈnā-shən\ \ˈklȯz\
Used in a Sentence: This clause provides that if a prior mortgage is paid off or renewed, the junior mortgage will continue in its subordinate position and will not automatically become higher or first mortgage.
Prepare for Your Real Estate Career in 2025: Start Now and Seize the Opportunity As we find ourselves in the final stretch of 2024, there's a palpable sense of urgency...
Prepare for Your Real Estate Career in 2025: Start Now and Seize the Opportunity As we find ourselves in the final stretch of 2024, there's a palpable sense of urgency...
How to Start a Full-Time Real Estate Career in Florida Thinking of embarking on a real estate career in the Sunshine State? Florida presents lucrative opportunities for real estate professionals...
How to Start a Full-Time Real Estate Career in Florida Thinking of embarking on a real estate career in the Sunshine State? Florida presents lucrative opportunities for real estate professionals...
Navigating the New Landscape of Real Estate: Understanding the NAR Settlement and Its Impact In the dynamic world of real estate, staying informed about industry changes is crucial for both...
Navigating the New Landscape of Real Estate: Understanding the NAR Settlement and Its Impact In the dynamic world of real estate, staying informed about industry changes is crucial for both...
