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LSDefine

Simple English definitions for legal terms

bridge loan

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A quick definition of bridge loan:

A bridge loan is a short-term loan that helps cover costs until you can get more permanent financing. It's like a temporary band-aid until you can get a long-term solution. For example, if you're buying a new house but haven't sold your old one yet, a bridge loan can help you cover the down payment until you sell your old house and get the money you need. It's important to remember that bridge loans usually have higher interest rates and fees, so they should only be used when necessary and with caution.

A more thorough explanation:

A bridge loan is a short-term loan that is used to cover costs until more permanent financing is arranged. It is also known as a swing loan. For example, if someone is buying a new home but has not yet sold their current home, they may take out a bridge loan to cover the down payment and closing costs on the new home until they sell their current home and can pay off the loan.

Another example is a business that needs to cover expenses while waiting for a larger loan to be approved. They may take out a bridge loan to cover the costs until the larger loan comes through.

Overall, a bridge loan is a temporary solution to cover expenses until a more permanent financing option is available.

bridge bank | bridge the gap

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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