1st deed of trust is $25,000 in 2001. 2nd dot is $109,000 in 2003.
2nd dot is refinanced in 2004 and is now $103,000 and the 2003 dot ($109,000) is released two months after the re-fi is put to record
so now there is 1st for $25,000 and 2nd for $103,000
subordination agreement is recorded in 2006, referencing (not by book & page) the $25,000 in 2001 is subordinate to the $109,000 dot in 2003.
does this automatically make the 2nd dot (103,000 re-fi) superior because it is a re-fi of the released $109,000? the subordination agreement DOES NOT include wording to show that dot was refinanced.
I'm reporting on my search with a note explaining the above situation, but I never ran into this before and wasn't sure if they would need to record a corrected sub-agreement including information from the re-fi in 2004. I'm interested in what ya'll think.
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