- Bridge Loans
About Bridge Loans
The HOAP Foundation is not a lender and does not originate loans, however for many homeowner we speak to, the equity in their home gives them options in the form of a short term loan to get out of foreclosure, pay off debts, repair credit and get a genuine opportunity to refinance into a more permanent loan at a reasonable interest rate. We know cash flow is an issue so we'll help guide you as to what to look for in a bridge loan and explain how the process works.
Often time Bridge Loans are at fairly high interest rates, however, this would be short term financing just to stop foreclosure so the time in which you'd be paying that higher interest rate is short term, and it is often just the lifeline a homeowner needs to buy time and save their home.