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Real Estate
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[quote=Anonymous]A true bridge loan is a loan used to buy the new house that is collateralized as a second mortgage on the old house and the new house. The equity in the old house effectively allows 100% financing. Then when the old house is sold the mortgage is paid down. It doesn’t have to be refinanced but commonly is because you can get better rates on a non bridge loan. Eaglebank does them. [/quote]
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