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The only difference between a senior and a junior mortgages is the timing of when they are recorded. In rare circumstances, in the cases when a mortgage that was intended to be a second or junior mortgage is recorded first at the county recorders office, the mortgagee that was supposed to be recorded first has to get written permission from the other mortgage company to subordinate their position. Often times, this happen only when a monetary consideration is extended in return.
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What is the definition of 'senior mortgage'?
A 'senior mortgage' is the first mortgage placed on a property. If one re-mortgages one's house, then that becomes known as a 'junior mortgage'. Payment of a senior mortgage always takes precedence over payment of a junior mortgage.
What is a junior mortgage on a property that includes the balance due on an existing senior mortgage called?
foreclosure
Do you capitalize senior and junior in a name?
It depends on how it is being used, but in most times no, it will not be capitalized. If you're using the word to distinguish between a father and son of the same name, then you capitalise it, For example: John Smith Senior John Smith Junior
What is the relationship between senior and junior?
LOVE
What is the difference between the junior and senior senator of a state?
The difference is that the senior Senator has been in office longer than the junior Senator.
When did Junior Senior end?
Junior Senior ended in 2008.
When was Junior Senior created?
Junior Senior was created in 1998.
What is the Difference between a Junior Mortgage and a second mortgage?
The difference is really all in how the loans were originated. A junior mortgage refers to the lien placement on the property title. A second mortgage means a mortgagor has more than one loan on a property with the same lender. For example, If I purchase a home (assuming the title is clean and there are no liens on the title) and get the loan with ABC Bank then ABC Bank is considered the senior mortgage. If I obtain another loan with ABC Bank most commonly a HELOC or Home Equity Line of Credit then it is a second mortgage in second position. Let's say that after I obtained the second loan with ABC Bank, I chose to take out a smaller loan against the property with XYZ Bank. That loan will be considered a junior lien. The loans won't always fall that clean on the title however. You can have a junior lien between a senior lien and second mortgage. In the example above if the XYZ Bank loan was taken out before the second mortgage with ABC Bank then it would still be called a junior lien and the second mortgage with ABC Bank would be the second mortgage with ABC Bank but in third position. Hope that helps!
What is the difference between a junior stylist and senior stylist?
A senior stylist has a lot more experience and years behind them than a junior stylist. A junior stylist only knows so much and is learning all the time where as the senior stylist knows it all and is the teacher.
When was Junior Senior - film - created?
Junior Senior - film - was created in 2003.
Is there any size difference between junior and senior water polo goals?
no
Is the name junior a weird name for a guy?
Yes You may be talking about a guy whose legal name is Junior. This is not usually the case. When a boy is named after his father, he will often sign his name with 'jr' at the end, and he is often called Junior as a nickname. Junior would be an unusual legal name, especially if it is his father's name as well. His father would be Junior Senior, and he would be Junior Junior. Imagine if their family name is Senior. they would be Junior Senior Senior, and Junior Senior Junior. If the son is in the military, he might be Major Junior Senior, Junior, Camp Jejune.
