Posted by David Butler on January 31, 2002 at 18:27:49:
On its terms possibly… what does it say? As far as could it be used as security for a house that isn’t there yet? I suppose so, but that then what is the security? A performance mortgage is generally a collateral instrument, pledging collateral as security for the performance of a promise. How are you trying to tie all of that together? Performance of what, secured by a performance mortgage of DOT, secured by what?
David P. Butler