This can get into SEC requirements and you'll often find that they may have a solution to defaults or demands for capital by substituting notes or collateral, this gets pretty much a scam as no note is identical to another, substitution with consent is one thing, substitution at the option of a lender/broker with a note holder or investor should not be agreed to.

They're not a substitute for rehabbing your property properly (say that 5 times fast!)

Free and Clear Houses - Buy on Private First Mortgages - Create good private terms, like a Moratorium on payments, Subordination, and Substitution of Collateral.6.

That said, there is no substitute for getting in the local trenches and meeting pros and other investors. 

Now substitute Chinese with Russian, Indian, South American, heck even San Franciscian and New Yorkian.

No substitution for driving by property to look at condition and see if anyone is currently living there.

Pickle ( real name) would sell me the bad paper about 3 weeks from the published date of the auction.. we would do a substitute of trustee and bene and I would then take it to the sale as the bene..

(iv) Privilege is reserved and Borrower may, at any time, substitute for the collateral that is security for this NOTE secured by a Deed of Trust.

I've learned a ton on BP and know that no amount of learning substitutes for "sweat equity" and actually getting out there and doing it.

(iv) Privilege is reserved and Borrower may, at any time, substitute for the collateral that is security for this NOTE secured by a Deed of Trust.