bridge loan Hear it!

bridge loan definition - legal

n

Short-term loan to cover excessive or concurrent obligations, as in the case of a loan to cover two separate mortgages until borrower is able to sell one home.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.