Mortgage Bridge Loan


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Mortgage Bridge Loan


 

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What happens to the mortgage on our existing house if we use a bridge loan to purchase a new house?
If I use a bridge loan to buy a new house, what, if anything happens to the mortgage on our existing house? Are we then responsible for our first mortgage, bridge loan payments and the new morgage? What is the benefit (other than obviosly being able to purchase the new house) of that?

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what are home mortgage bridge loans and what are normal terms?


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Please give me your idea about these terms (2/2)
This is about real estate. Just give me your idea / opinion/ example / explanation, etc. It doesn't matter short or long explanation. Anything that you think that can help me to understand easily. This is the terms : Balloon payment, Blanket mortgage, Bridge loan Completion bond, Construction / permanent loan, Convertible loan, draws, exchange, Hard-money mortgage, Installment rate, Joint Venture, kicker, lease option, open-end mortgage, option to buy, package mortgage, Purchase-money mortgage, realized Caption gain, Reserve annuity mortgage (RAM) split fee financing, stop date, term loan two-step mortgage, Thank You very much.

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