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Subordinate Financing

Subordinate Financing Definition

Subordinate Financing means a loan that places a secondary lien on a property behind a first mortgage. Subordinate debt financing is ranked behind that held by secured lenders. If a borrower defaults, the lender holding the primary lien is paid prior to the lender holding the secondary lien. Only the first lien is certain to cover the costs, subordinate lien holders may never get paid.







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