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Mortgage Professor about when to use a bridge loan: | |||||||||||||||||||||||
Buy First or Sell First?
October 6, 2003, Revised May 4, 2005 ?I currently own a home which I would like to sell, and then buy another. What is the best sequence of steps in this process?? The situation you want to avoid is giving up your existing home before you can move into the new one. ... more... How to Shop For a Mortgage September 24, 2003, Revised November 12, 2004 Shopping for a mortgage effectively isn?t easy. Reforms proposed by HUD, which were pending at the time this article was first drafted, and which promised to make the process much easier, were never enacted. ... more... |
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when to use a bridge loan related definitions |
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Equal Credit Oportunity Act
Equal Credit Oportunity Act (ECOA) Is a federal law that requires lenders and other creditors to make credit equally available without discrimination based on race, color, religion, national origin, age, sex, marital status or receipt of income from public assistance programs. ... more... 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... |
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More about when to use a bridge loan What Should You Know Before You Take Out A Loan: Five Factors to Keep in Mind What is Bridging Finance? Home Loans- a Fillip to Your Desire to Rise on Property Ladder How Refinancing Works Bad Credit Personal Loans Financial Backup To Face The Bad Times Boldly Real Estate Problem Solver Mortgage Loan Closing Costs for Refinance Loans and Home Purchase What's The Truth Behind Your Finances? Guide to Bridging Loans See What a Best Secured Loan Means to You
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