How to Rock a Bridge Loan
By Rob Spinosa, SVP of Mortgage Lending, Marin County
(Guaranteed Rate, Marin County, CA)
How to Rock a Bridge Loan If you've been lamenting how tough it is to get your offer to buy a home accepted these days, think about how much more difficult it is for those who must buy a new home BEFORE selling their existing one. After all, it's practically impossible to make a contingent offer --- defined as one that would allow you to sell your existing home first. It's usually in this stressful environment that someone well-meaning; a friend, a co-worker, even a Realtor, will swoop in and advise our buyer to "Just get a bridge loan!," as if there is a simple, ready-made solution for our otherwise complex problem. So, let's go under the bridge and learn about the waters that run the "buy before sell" dilemma. Let's figure out if a bridge loan is the right fit for you, or if perh...
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