I haven't noticed this in previous posts, so forgive me if I overlooked this answer here.
I am trying to figure out where in the California Code it says how the status of a lien is determined, specifically when creating a mortgage.
Conceivably, we would have a borrower that wants to refinance a first lien and pay off a part of a second lien. (Is this even feasible??) I am looking to find out if the new loan would be subordinate to the unpaid portion of the second lien. (I say yes, unless their is a subordination clause or agreement.) But I am also looking for a way around it if their is no subordination clause or agreement.
Thanks for any help in finding this in the CA code!!
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