http://www.moneydevil.info Tue, 10 May 2011 12:12:50 +0000 en hourly 1 http://wordpress.org/?v=3.3 http://www.moneydevil.info/interim-financing/ http://www.moneydevil.info/interim-financing/#comments Sat, 07 Mar 2009 11:50:24 +0000 admin http://www.moneydevil.info/?p=26 Short-term financing in anticipation of a long-term loan is often called interim financing. Many construction loans are actually interim loans. Construction loans are typically short-term financing that is paid off as soon as the building is completed.
Another form of interim financing may involve obtaining a second mortgage on the applicant’s current home in order to cash out sufficient funds for the down payment on another purchase. These interim financing arrangements are normally not counted against the applicant. However, they must be paid off prior to or during the closing.

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