Sounds like a short term loan rather than a temp or bridge loan to me which would require disclosures.
Just to be clear, which property will the employer purchase? If it's the current home, will they be paying off the new home? If so, it's short-term.
If they will be buying the current home and then the customer will use proceeds to pay down and do permanent financing on the balance, it would then be a bridge loan.
Last edited by RR joker; 02/08/11 07:07 PM.
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My opinion only. Not legal advice.
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