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for the purposes of; refinancing an existing first mortgage, obtaining a new <br />line of credit, home improvement, or debt consolidation. <br />The allowance of the subordination of the DPL shall be in accordance with the <br />local policy as approved by the County and/or the policy approved by the <br />funding agency. An active subordination policy is critical and is intended to <br />protect the local government's financial interest in the homeowner's property <br />without unduly restricting the homeowner's access to the equity in their <br />property. <br />The language of the documents (grants, mortgages, deeds of trust) filed as <br />liens against a property to secure the County's interest prohibit the transfer of <br />title, or portion thereof, without prior consent by the County. Executing an <br />additional lien, subsequent to the execution of the County's security <br />instruments, constitutes a transfer of title that would make the County's <br />loan/grant immediately due and payable. <br />19. Consent to Place Subordinate Lien <br />The County will generally consent to the placement of a Subordinate Lien <br />upon written request from the homeowner(s) under the following conditions: <br />1. Requests for Subordination of Lien must be approved by the PA, or <br />his/her designee. <br />2. The following documentation at a minimum should be provided to the PA <br />for consideration of Subordination requests: <br />a. Proof of licensure of refinancing lender to do business in the State of <br />Florida. <br />b. Authorization for Release of Information signed by the homeowner(s). <br />Signatures will be verified. <br />c. Written statement from the Homeowner(s) stating reason for the <br />subordination request. <br />d. Supporting documentation as to the validity of the reason. <br />e. Lender's Good Faith Estimate. <br />f. Complete terms and conditions of the existing loan and the new loan. <br />g. Documentation about payment of taxes and insurance and their status. <br />h. Copy of appraisal or property valuation information with method of <br />determining same. <br />Note: Consideration should not be given to any request for Subordination of <br />Lien without this information. Additional information may be required. <br />3. Requests for Subordination of Lien will be reviewed and a decision made <br />on a case by case basis on such merits as the following: <br />a. Emergency needs arising from a natural disaster. <br />b. Emergency housing repairs which eliminate a threat to the health or <br />safety of the occupants or that eliminate an immediate or imminent <br />danger to the dwelling itself. <br />