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Modification Agreements

Posted by SeanW on September 24, 2003 at 7:02 PM

I don't think anyone's asked Ward about this...

Does a modification agreement affect the priority of recording?

Example:
DOT#1 recorded in 1995
DOT#2 recorded in 1996
DOT#1 modified in 1997

I'm thinking DOT#1 may now be the junior.

Do the new terms of the mod agreement, have anything to do with the answer to this question? (New rate, changed number of payments, added principal, etc.)


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