Town of Nantucket Affordable Housing Trust Agenda Packet 2026-05-19
Trust Subordinates CCAP Loan to Rockland Trust Mortgage
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Description
The Affordable Housing Trust will subordinate its $15,000 Closing Cost Assistance Program mortgage to a new $683,000 first mortgage from Rockland Trust for Aaron and Heather McAuley’s refinance of 14A Equator Drive. The subordination ensures the primary lender’s first-lien position while preserving the Trust’s junior lien.
Contract Details
Contract Amount
$683,000.00
Vendor
ROCKLAND TRUST
Agency
Town of Nantucket, MA
Contract Type
FINANCIAL_SERVICES
Document Date
May 19, 2026
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