Posted by Jeff on November 16, 1998 at 09:03:35:
What she is talking about is selling a mortgage that has been created within escrow. SHE created the note, and arranged for someone to buy this note prior to her actually purchasing the property. Once everything is arranged, she will close on the property, complete the creation of the mortgage, and then sell that same mortgage to get the funds to purchase the property. All of this happens in escrow, and the order doesn’t matter as long as everyone gets the correct funds and/or property at the conclusion of the transaction.
I have a finance program that is built around this same idea. I will send you an information package for you to look at.