what is a subordinate mortgage
A subordinate mortgage is a mortgage that is of a lesser priority, or one that is held subordinate to, a primary mortgage.A good example of this would be a second mortgage, or even a third one. The second mortgage is subordinate to the primary, and the third mortgage is subordinate to both of those, etc. etc.What this means that if the home goes into foreclosure, the primary mortgage will be paid off first. Then, if there is any money left over, it will pay off the second mortgage. subordinate mortgage is a mortgage that is of a lesser priority, or one that is held subordinate to, a primary mortgage.