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Month: September 2016

What is a Bridge Loan?

What is a Bridge Loan?

A bridge loan can be considered as a short term loan that is used by a person or a company in order to meet his current financial need. This bridge loan is taken by a person or a company until he is able to get a permanent financing alternative. As the name suggest, it bridges the gap between times when financing is needed. It is also known as “interim financing” or “gap financing”.

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What Terms to Negotiate For in a Loan Modification

What Terms to Negotiate For in a Loan Modification

Once you have a loan modification offer, it is advisable to carefully read and evaluate the terms proposed by your lender. It is important to know what exactly are the ideal terms for a modified loan, especially when it’s a DIY loan modification.

  • There is a reduction in the interest rate, or a modification from a floating to a lower fixed rate.

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