Maryland’s New “Automatic Subordination” of Junior Mortgages Law Takes Effect on 10-1-2013
Maryland’s New “Automatic Subordination” of Junior Mortgages Law Takes Effect on 10-1-2013 Maryland has enacted a new “Automatic Subordination for Junior Mortgages” statute will take effect on October 1, 2013. The statute (SB 199, Chapter 205 of the 2013 Laws of Maryland) provides that a mortgage or deed of trust (collectively “mortgage”) on residential property…