Finance
In West Virginia, a bridge loan is typically used to:
AFinance long-term infrastructure improvements
BProvide short-term financing to bridge the gap between purchasing a new home and selling the old one✓ Correct
CReplace a deed of trust after the first payment
DFund construction projects over 10 years
Explanation
A bridge loan provides short-term financing allowing a homeowner to purchase a new property while waiting for their existing property to sell. It 'bridges' the gap between the two transactions, typically with higher interest rates than conventional mortgages.
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