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What happens if you default on a bridge loan?

Jessie Thompson

in Student Loans

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Eric Morgan on July 8, 2018

A very good question. First a little about bridge loans. Very simply, a bridge loan is a short-term loan obtained to facilitate the financing of a property. It is a kind of financing that the borrower uses when they are waiting to sell a property quickly or refinance in the near future. Like other loans, you must have some type of warranty that you put up for the bridge loan. If you do not pay the loan, the bank will be able to take advantage of what you put up for collateral. Most of the times, this means that the property that the loan was used for. More information

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