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what is the buy and bail?

I read the post on zillow talking about "buy and bail" rules.  What is buy and bail?
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May 22 2009 - US
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This is the type of stunt that will make bridge loans/blanket loans more fahionable, then a requirement.
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May 22 2009
You must be referring to the poster 'hmkalton' that just inherited 200k, conned her way into a loan mod and now wants to buy and bail to buy a more expensive home. Karma. Karma. Karma. Don't even try it.
Hi hmkalton! Sleep well...
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May 22 2009
It is the concept of buying a second house to live in, then letting the original house go into foreclosure once you secure the loans on the new purchase.
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May 22 2009
 
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