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Mortgage Professor about interim loans: | |||||||||||||||||||||||
Protecting Against Mortgage Broker Tricks
July 15, 2000, revised October 5, 2002 "I know you have written about tricks that mortgage brokers pull, but I'm sure I don't have them all?Could you list them and explain how I can deal ... more... Mortgage Amortization: How Does it Work? August 18, 2000, Revised August 4, 2004 "After reading several of your articles on paying off mortgages early, I came to the conclusion that I really didn't understand the basic rules of mortgage accounting. Can you explain ... more... |
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interim loans related definitions |
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Bridge Loan
Bridge Loan A bridge loan is a short-term loan, usually a second mortgage, run for 6 month but may be taken taken out for a period of 2 weeks to 3 years. The borrower's current home (which is usually "for sale") is ... more... Interim Financing Interim Financing A construction loan made during completion of a building or a project. A permanent loan usually replaces this loan after completion. Interim loans are used to bridge the gap between the construction loan and the permanent loan (hence bridge loans) ... more... |
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