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qualifying for a bridge loan Do you qualify? Getting an FHA loan after a foreclosure – and the loan was later foreclosed. The inability to sell the property due to a job transfer or relocation to another area does not qualify as an extenuating circumstance. Borrower current at the time.
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The second mortgage is a lump sum of payment made out to the borrower at the beginning of the loan. Like first mortgages, second mortgages must be repaid over a specified term at a fixed or variable.
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