Subordinated FHA for Higher CLTV
This is the post that will reveal the FHA secret to subordinating for a higher CLTV. The way that you subordinate is with a tiotle company prepared subordination agreement. Give the FHA subordination agreement to a notary and have the secopnd mortgage lender sign it and send it back the the title company. Then close your FHA mortgage loan with the seond subordinate to the FHA insured first mortgage.
You may have to list this on the MCAW and the DE Underwriter may assist you with the technocal subordination facets of FHA. Overall, this willhelp a borrrower to refinance where there is otherwise no equity becuase the FHA second mortgage is in la la land.
La La Land and CLTV subordination agreements.
Danger Will Robinson! Danger!