Posted by William Bronchick on November 05, 2001 at 09:42:55:
The subordination clause can be found in my Nuts & Bolts Course, and is inserted into the deed of trust or mortgage.
Subordination and Substitution… - Posted by TRandle
Posted by TRandle on November 03, 2001 at 16:29:46:
I’ve been through many of my courses and have a beginning from one of Bill’s courses, but I was hoping someone might share their preferred subordination and substitution clauses for promissory notes secured by a deed of trust.
The situation is that our company will sign a promissory note (2nd lien) in the amount of 14k due in a single payment upon being cashed out by our TBer. The seller did not request this security. I offered it and I want to provide it, but in a manner that allows me the most flexibility.
Also, is it recommended to have the clauses in both documents?
Thanks in advance for any responses.