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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Only the modification is junior Posted by Ward-CA- on September 25, 2003 at 8:48 AM In Reply to: 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.) -=-=-=-=-=-=-=-=-=-=-=-=-=-=- Sean, A recorded modification is junior to all recorded liens or interests that exist at the time the modification is recorded. If there's a non-recorded modification then that too is junior to any existing recorded liens and interests. If, at the time the modification was formally executed, between the trustor and beneficiary of a trust deed, there were no other junior liens or interests, the modification would not have to be recorded. It would have the same seniority as the original recorded trust deed. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : 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.) : -=-=-=-=-=-=-=-=-=-=-=-=-=-=- : Sean, : A recorded modification is junior to all recorded liens or interests that exist at the time the modification is recorded. : If there's a non-recorded modification then that too is junior to any existing recorded liens and interests. : If, at the time the modification was formally executed, between the trustor and beneficiary of a trust deed, there were no other junior liens or interests, the modification would not have to be recorded. It would have the same seniority as the original recorded trust deed. : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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