Posted by Patrick S. Lawson on April 14, 2006 at 10:32:44:
Correct.
Seller Finance and Subordinate Financing - Posted by bmeesh
Posted by bmeesh on April 14, 2006 at 07:30:58:
Can someone explain this is easy terms…
On a contract it says " Buyer will execute a purchase money note and mortgage to Seller that is ____ or is not ______subordinate to any third party financing in the amount of XXXXXXX
Does this mean that if it is subordinate it is in second position and if not, it is in first position?
Thanks