A form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold. Also known as "swing loan."
[ Back To Real Estate Glossary ]
Serving Fairfax County: Great Falls, McLean, Oakton, Arlington, Alexandria, Dunn Loring, Reston, Fairfax, Herndon, Oak Hill, Falls Church, Vienna, Serving Loudoun County: Ashburn, Leesburg, Lovettesville, Waterford, Sterling and Potomac Falls
703-757-5769
Offices in Great Falls, Chantilly and Leesburg
