Without a subordination clause, loans take chronological priority. This means the oldest loan becomes the primary loan, with first call on the proceeds of a foreclosure sale. However, when a homeowner refinances his first mortgage, the lien priority changes. Refinancing cancels the loan and writes a new one.
Trenton, North Carolina. Trenton is a town in Jones County, North Carolina, United States. The population was 287 in 2010. It is the county seat of Jones County. Trenton is part of the New Bern, North Carolina Micropolitan Statistical Area.
Hertford County, North Carolina. Not to be confused with Hertford, North Carolina. Hertford County is a county located in the U.S. state of North Carolina. As of the 2010 census, the population was 24,669. Its county seat is Winton.