What is mortgage subordination?
Mortgage subordination is when a current mortgage holder agrees to allow a new mortgage (i.e. remortgage) to be placed against the property ahead of the current holders position. This shuffling of mortgages and positioning is done all at the same time. The mortgage position is determined by the date (oldest mortgage has 1st position) unless a subordination agreement is filed.

Show All Answers

1. Does the City have funding for home repairs and/or emergency renovations?
2. Is there a waiting list for City funding?
3. Are there other housing resources for City residents?
4. Is there anything to assist with first-time homebuyers?
5. What is the Amnesty Program?
6. How do I know if I am eligible for amnesty?
7. Is there a fee to apply for amnesty?
8. What is mortgage subordination?
9. How do I apply for mortgage subordination?
10. What resources can help with my utility bills?
11. Are there specific resources for seniors?