Contra Costa California Subordination Agreement (Deed of Trust) is a legal document used in real estate transactions to establish the priority of liens on a property. It is typically used when a homeowner seeks to refinance their existing mortgage or obtain a new mortgage loan while still having an existing deed of trust on the property. This agreement allows the lender providing the new loan to have a higher priority lien over the existing deed of trust. By signing this document, the holder of the existing deed of trust consents to have their lien subordinated to the new loan, meaning that in the event of default and foreclosure, the new lender's lien has priority over the existing one. When there are different types of Contra Costa California Subordination Agreements (Deeds of Trust), they can be categorized based on the specific purpose they serve. The two main types are: 1. Refinance Subordination Agreement: This type is used when an individual wants to refinance their mortgage loan and obtain a new loan with better terms or interest rates. The existing deed of trust holder agrees to subordinate their lien to the new loan, allowing the homeowner to proceed with refinancing. 2. Purchase Subordination Agreement: This type is used when a property is being purchased, and the buyer intends to obtain a mortgage loan. If there is an existing deed of trust on the property, the seller's lender may require a subordination agreement to establish the new lender's priority lien. Using relevant keywords: — Contra Costa California Subordination Agreement — Deeothersus— - Real estate transactions — Priority of lien— - Refinance - Mortgage loan — Existing deeothersus— - New loan - Foreclosure — Refinance SubordinatioAgreementen— - Purchase Subordination Agreement.
Contra Costa California Subordination Agreement (Deed of Trust)
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