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Document Id : 7296
File Type : Microsoft Word
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USA Collateral Substitution Agreement
USA mortgage lenders, if a borrower is selling a property on which you hold a mortgage, in order to buy another property, replace the original property with the new one under the mortgage and note with this Collateral Substitution Agreement form.
- The original real estate property is released as collateral.
- The borrower's new property replaces the original collateral.
- Provisions of the original note and all other loan documentation shall remain in full force and effect.
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