A request has been made by a second lienholder to the first lienholder that the first deed of trust or mortgage be subordinate to the second deed of trust of mortgage.
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Interesting Questions
You can seek help from a real estate attorney or a real estate professional who’s experienced with lien issues in Irvine. They can steer you in the right direction.
Yes, there's a process involved. Typically, you’d need to gather all parties involved, draft the agreement, and then have it notarized before recording it with the county.
Generally speaking, subordination agreements themselves won't directly impact your credit score. However, how you manage your loans following the agreement may play a role.
Usually, the original lender, the new lender, and the property owner all sign this agreement to officially record the change in lien priority.