guest says:

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Answer

Yes, but the holder of the second has to agree to it. Its called subordination. Normally when a first mortgage is paid off the second moves into the first position unless the holder agrees to “subordinate” the second.

Answer

Yes, you can leave the second alone but the second mortgage company will have to allow it by signing a subordination agreement.

Basically, a subordination agreement is an instrument that allows a first lien or interest to be paid off and allows another first mortgage company to come in and be the first priority lien holder.