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A gap mortgage, referred to as a Consolidation, Extension and Modification Agreement (CEMA), is a financial tool that acts as an interim loan. This interim loan allows for easier transfer of property rights.
English term or phrase: Gap Mortgage, Gap Note If new funds are advanced at the time of the consolidation and modification evidenced by this Agreement, the new obligation must be evidenced by an original of the new money note (the "Gap" Note) and an original of the new money mortgage (the "Gap" Mortgage)
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Residential Mortgage Bridge Loan Bridge Loans – Texas Mortgage Center – A bridge home loan can be obtained to pay off the existing mortgage on an old house when your are purchasing a new home. If the old home doesn’t sell, the borrower generally begins making interest only payments on the bridge loan. residential bridge loan | Bridge To Let Short Term.
Gap Note – Schell Co USA – Contents Open gapps packages Usa gap year fairs Gap analysis matrix Real estate bridge loan peerstreet went on to report that with this product launch, it is taking a big step in developing an even more robust real. manhattan bridge capital, Inc. engages in originating, servicing, and managing a portfolio of first mortgage loans..
Gap Promissory Note (Pro-Lender) (NY) | Practical Law – A form of gap promissory note for use in New York where a lender consolidates, extends, and modifies an existing mortgage with a new mortgage loan to reduce mortgage recording taxes (a CEMA transaction). Post navigation