Posted by Woody (MI) on March 03, 2002 at 05:07:11:
I don’t really know alot about them but I did send for their info and a couple months later one of there reps called me at home. Basically, they loan you all the money you need to buy property and then build a home on. That loan includes everything from closing costs to fees to payments on the loan. No doubt they make a ton of money doing this. When the building is done, they turn the construction loan into a regular mortgage. My assumption is that they then sell the note to get there money back out of it. If this doesn’t answer your questions, e-mail me with some specific ones and I will answer whatever I can.
My best to you