| Bridge
Loan |
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A short-term loan that is used just until a person or company can
secure permanent financing.
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Banks
offer bridge loans to help home buyers out of a sticky situation.
They are short-term loans (up to 1 year) with high interest rates
that let you borrow against the value of your old home. Basically
it covers the bills until a company or person is approved for a larger
loan. |
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Dictionary
