Bitcoin was used to trade in illicit products and services on the dark web, as it was
relatively simple to get hold of, reliable, and very hard for anyone to monitor
transactions and where the money ended up.
It's a
relatively simple process: the buyer finds a conventional mortgage lender; applies for the loan; furnishes the necessary documentation to the bank (tax returns, proof of employment, credit report, etc.); the home is appraised; the buyer / borrower provides proof of insurance; escrows are calculated and collected; and the
transaction closes.