As a homeowner, you may have heard the term „subordination agreement” in reference to your mortgage. A subordination agreement is a legal document that allows another lender to take priority over your primary mortgage lender in the event of default. This can be helpful if you are seeking a new loan or refinancing your existing mortgage.

If you have a mortgage with SunTrust, you may be required to sign a „SunTrust Subordination Acknowledgement and Agreement Form” in order to subrogate your mortgage. This form is a legal agreement that allows SunTrust to subordinate to another lender`s interest in your property.

The purpose of this form is to protect SunTrust`s interests in the property while allowing you to seek additional financing. By signing the subordination agreement, you agree to allow SunTrust to take a secondary position to any new liens or mortgages that may be placed on your property.

The form itself is relatively straightforward and includes basic information such as your name, address, loan number, and the name of the new lender. It also specifies the terms of the subordination, including the effective date and the maximum amount of the new loan.

While this form may seem like another piece of paperwork to add to your mortgage file, it`s important to remember that subordination agreements can have significant implications for your finances. If you are considering refinancing your mortgage or taking out a new loan, it`s important to understand the terms of any subordination agreements involved.

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In conclusion, the SunTrust Subordination Acknowledgement and Agreement Form is an important legal document that homeowners with SunTrust mortgages may be required to sign. By understanding the terms of this subordination agreement and including relevant keywords in your content, you can help provide valuable information to readers and boost the visibility of your article online.