1. Resources for the Madison Community

    Madison stands with the families of Abundant Life community. This page is dedicated to connecting victims and the broader community to resources and accurate information about the tragic events that happened on December 16.

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Community Development

Subordinations

The City of Madison's Community Development Division will consider a loan subordination request where the subordination results in one of the following:

  1. Non-cash out simple refinance, such as interest rate reduction and/or there is a mortgage loan product change (e.g. when a balloon or adjustable rate mortgage (ARM) matures and the owner switches to a fixed product). The new first mortgage loan cannot exceed the current mortgage loan balance secured ahead of the CDD loan (excluding reasonable lender fees).  
  2. Cash out can only be used for home improvements.

Lenders can find additional information and requirements on how to request a Subordination on a City loan in the City’s Subordination Checklist ; City's Subordination Policy-Residential; and the City's Subordination Policy-Rental, Multi-Family, Facility.

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