I'm searching for references for a land note collateral review.

Originated a note with 5 different properties as collateral.  

I understand I lose my collateral upon sale of the property.  

Can the lender still file the lien after-the-fact as long as the promissory note clearly indicated that the intent was for the subject property to be collateral?

The lender assessed value, then opened a $175,000 line of credit with those properties as collateral.

Plus I still have almost 100K equity on my house to use as collateral.

I dont do them often but did one up in Washington state and it was 50% LTV on the primary and then cross collateral on a really cool Ranch in North Central Washington that was free and clear so I got a first on that as a cross.. and I would have loved to own that property :)  @Beth Johnson does a lot of seconds from what I see and like me she knows how to juice the equity portion of the deal..

And when you do take a loan against the policy's Cash Value, the Cash Value continues to grow (since its only serving as collateral).

I was thinking I'd buy an acre of land that has city electricy and water available, and pay that off so that it can be used for collateral one house at a time.  

Another option may be to secure the loan using primary residence as collateral.