- What does subordinate mean in real estate?
- What does subordinate financing mean?
- How do you use subordinate in a sentence?
- What is subordination sentences?
- How long does a subordination agreement take?
- What does it mean to subordinate a Heloc?
- Should I sign a subordination agreement?
- What is an example of subordination?
- What are the 3 subordinate clauses?
What does subordinate mean in real estate?
subordination clauseTo adjust the priority of a loan in the event of default, a lender may demand a subordination clause, without which loans take chronological precedence.
A subordination clause effectively makes the current claim in the agreement senior to any other agreements that come along after the original agreement..
What does subordinate financing mean?
Subordinate financing is debt financing that is ranked behind that held by secured lenders in terms of the order in which the debt is repaid. “Subordinate” financing implies that the debt ranks behind the first secured lender, and means that the secured lenders will be paid back before subordinate debt holders.
How do you use subordinate in a sentence?
Subordinate sentence examplesHe put on the air of a subordinate who obeys without reasoning. … The authorship of the epistles is in many cases a matter of subordinate importance; at least for Protestants or for those surrendering Bible infallibility, which Rome can hardly do. … I consider myself fortunate to have such a subordinate by me.More items…
What is subordination sentences?
Coordination and Subordination. Coordination and subordination are two ways of combining sentences. Coordination means combining two sentences or ideas that are of equal value. Subordination means combining two sentences or ideas in a way that makes one more important than the other.
How long does a subordination agreement take?
two to three weeksResubordination is easier now “But as property values are going up and the demand for refinance isn’t as much, it seems that the subordination process has gotten a little easier.” Typically, it takes two to three weeks to get the resubordination paperwork through, and it is likely to set you back $200 to $300.
What does it mean to subordinate a Heloc?
Subordination is the process of ranking home loans (mortgage, HELOC or home equity loan) by order of importance. … Through subordination, lenders assign a “lien position” to these loans. Generally, your mortgage is assigned the first lien position while your HELOC becomes the second lien.
Should I sign a subordination agreement?
The existing second loan moves up to become the first loan. The lender of the first mortgage refinancing will now require that a subordination agreement be signed by the second mortgage lender to reposition it in top priority for debt repayment.
What is an example of subordination?
Subordination uses conjunctions (for example: although, because, since, when, which, who, if, whereas) to connect one dependent clause to an independent clause, creating a COMPLEX sentence.
What are the 3 subordinate clauses?
There are three types of subordinate clauses: adjective, adverb, and noun. When a subordinate clause modifies a noun or pronoun it is called an adjective clause.