Finance
A Florida borrower applies for a 'bridge loan.' This type of financing is:
AA long-term fixed mortgage for infrastructure projects
BShort-term financing that 'bridges' the gap between purchasing a new home and selling the existing one✓ Correct
CAn interest-free loan for first-time buyers
DA commercial loan for retail strip centers only
Explanation
A bridge loan is short-term financing used to bridge the gap between buying a new property before the existing one sells. It is secured by the existing property and typically repaid when the old home sells.
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