How soon would we have to pay this?
A friend of ours has suggested we look into a bridge home loan since we have found a new house and our current home hasn’t sold yet. The owners of the new house want to close right away, so we are trying to find a way to fund our purchase until our current house sells. If we get a bridge home loan, how soon would we need to pay it off? I understand they are short term loans, and I am worried that maybe it would come due before our current house sells, leaving us in the same mess we are in now.