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Financing Your Home >Bridge Loans

What if you hear one day that the house you have coveted for years is on the market. Out of curiosity, you might call your real estate agent and arrange to see if the inside of your dream house is as terrific as the outside. It is, and you fall in love with the place. The sellers need a relatively fast settlement, and are not in a position to accept an offer that is contingent on selling your home before closing on the new one. While you are confident your house will sell fairly quickly, you cannot be sure in a fluctuating market.

A bridge loan might be your solution. Many lenders specialize in providing short term loans for just this type of situation. The principal and interest is paid back when you close the sale of your present house. If the market in your area is strong and there is a good possibility of selling your home quickly, or if you are willing to offer your home at a price that will make it attractive in a sluggish market, then a bridge loan is a tool that could make the home you love a real possibility. A good real estate agent and a knowledgeable loan officer are the team you need to work it out.

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Q	In what 2003 comedy does a very large family move to a new house on Forest Avenue in Evenston, Illinois?
A	"Cheaper by the Dozen", starring Steve Martin, was actually filmed in a house in Los Angeles near the Farmer's Market.
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Teri Maxwell, REALTOR®, real estate agent and broker for Memphis, Atoka and Tipton County, Tennessee home listings, property and land for sale - NUMBER1EXPERT™

Teri Maxwell
RE/MAX at Mallard Creek
8950 Highway 64, #104
Lakeland, TN 38002
Direct: 901-634-7201
Office: 901-507-5900
Fax: 901-507-5901
terimaxwell@NUMBER1EXPERT.com
I am committed to providing you with the service you deserve, whether you are selling your home or looking to buy a new house. A real estate expert in the Memphis, TN area- serving Bartlett, Lakeland, Germantown, Cordova, Faytte and Tipton County, I am ready to work with you!

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