Posted by Craig on April 15, 1999 at 15:42:09:
I see exactly where your confusion is coming from. Here is the problem. If “you” create a note with “yourself” as the payor, the sale of that note is absolutely a “loan”. If you create a note against someone else where you are “recieving the payments” then you have made a loan and if you sell it to someone then that someone has not made a loan, but rather “bought a loan from you”. The way that some articles are written do not explain the difference. You need to find a equity or hard money lender who will make a loan to you against your equity. Which is the same thing as selling a note that you are making the payments on.