Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Bridge Loan: Little Know Loan Program
Little Known Loan Program

            I’d been racking my brain trying to come up with my Lenders Viewpoint article for this month.  I didn’t want to write another article about why it’s the absolute best time in years to buy a home because prices are at rock bottom.  I didn’t want to write about the fact that rates are lowest ever.  For sure I did not want to write about the mortgage interest deductions for a home or the fact that in many areas you can now own a home for cheaper than you can rent one.  Another subject I did not want to mention was that there are loan programs that will accommodate someone who has had a recent short sale, bankruptcy and/or foreclosure. 
            I would like to write briefly about the Bridge Loan.  A Bridge Loan takes some equity from a property you are going to sell or are in the process of selling and uses it to buy your next home.    These are usually 1 to 2 year loans made with the specific purpose of getting the Buyer the funds they will need to buy their next home.

The values on homes that can be ... more

__________________________________________________
Are you on The Rain? Grow Your Network!