Money Mortgage Mart makes a short-term loan to Natalie to allow her to make a down payment on a new home before selling her current home. This is

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A bridge loan is a short-term loan that helps bridge the gap between the purchase of a new property and the sale of an existing one. In this case, Money Mortgage Mart is providing a short-term loan to Natalie to make a down payment on a new home before selling her current home, which is a classic example of a bridge loan. Home equity loans involve borrowing against the equity in a current home, while equitable right of redemption is a legal concept that may apply if a borrower defaults on a loan. The scenario described does not violate federal law.

Money Mortgage Mart Makes a Short-Term Loan to Natalie to Allow