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Mortgage Loans - Types Of Mortgages
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BRIDGE LOANS
Bridge Loans allow a homeowner to "bridge" the equity in one home to purchase a new home. This usually occurs when a homebuyer needs the cash proceeds from the sale of the current home to use as the downpayment for the new purchase. This solution is usually a short term loan. A bridge loan allows the new purchase to be accomplished without requiring the sale of the current home to close ahead of time.
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