Debt Structure

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January 1, 1 6 min read Definitions

Subordination Mortgage Priority Development Loan Lien Position Real Estate Financing Debt Structure Lien Subordination Financial Agreements

A financial agreement that changes the priority of claims on a property, such as converting a first mortgage to a second mortgage.

Read more about Subordination.

January 1, 1 6 min read Definitions

Underlying Mortgage

Underlying Mortgage Wraparound Mortgage Financing Real Estate Loans Property Debt Mortgage Terms Real Estate Financing Debt Structure

An underlying mortgage refers to the first mortgage secured by a property when there's also a wraparound mortgage. It forms the basis of the total debt, while the wraparound mortgage includes additional financing layered on top of it.