prior mortgage

By checking the mortgage books, he can determine whether any prior mortgages remain unpaid.

Land records show that he borrowed heavily against his properties, then later filed bogus notices that the prior mortgages had been released or satisfied.

This time, one of Fidelity National's title searchers found a prior mortgage on the property for $5.4 million from Astoria Federal Savings in New York.

A title searcher working for Fidelity National spotted what appeared to be a prior mortgage of $1 million on that property from Independence Community Bank in Brooklyn.

If the law is once laid down and understood, that a person advancing money on a second mortgage, with notice of a prior mortgage covering future as well as present debts, will be postponed to the first mortgagee, to the whole extent covered or capable of being covered by the prior security, he has nothing to complain of.