Subordinating a loan

[Mike G.]

Will, I have a followup question to your suggestion. It's a bit off-topic now because the OP indicated he didn't use cash, but I'm thinking others might be interested in your answer, too.

Let's say the house was purchased all cash and there is a 1st trust deed on it. If you get a private money lender to come in for say, 50% or 55%, I would assume that new lender would want 1st TD position. How do you swap the two positions? Also, does the amount on the original Note have to be adjusted, or does that not matter?