Friday, June 08, 2007

query: ohio mortgage refinanced again but subordinate lienholder not informed

Let's assume we have only two liens on record.


A is in first position. B is in second.

The property owner refinances A. A is satisfied and a new lien, C, is recorded, moving B to first position.


If C intended to take first position, the parties should have contacted B and obtained a postponement or subordination agreement prior to closing the transaction. If you are C or C's title insurer, sounds like you have some post closing repair work on your plate. Good luck.

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