umask are the default permissions that are applied when a file or directory are created. To see this in action simply just "touch filename" or "mkdir somedir" and you'll see what default permissions are applied.
The first thing Ialways tell people you should know is to NEVER change the defaults unless you are making them more restrictive. But they work well and if you change the defaults you could end up creating a file without permission to read........
This is a great way to use your ftp server space, for example on your web hosting account (althoughI believe many hosts don't allow storage like this), but if you have a VPS/Dedicated Server etc.., this would be perfect. Imagine how easy it is to work with an ftp account that you can just mount as a normal partition or directory in Linux, it would be great for backups etc..
Name
curlftpfs - mount a ftp host as a local directory
Synopsis........