In most cases there are mortgages in two positions. First mortgages are liens that are held on title in 1st position. 2nd mortgage loans are subordinate liens that are held in 2nd position behind the 1st mortgage. This becomes important to the lender if the borrower were to default on the loan, because the position a mortgage is held would be the order in which the lien holders were paid. The Mortgage Loan Outlet offers first mortgages at a great rate.
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