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#1911745 - 04/04/14 03:23 PM Homeowmership Counseling
lrocha Offline
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Joined: Mar 2011
Posts: 23
Land loans are not considered covered under RESPA so would that mean we do not need to send out the counseling disclosure?

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HOEPA and Homeowner Counseling Rule
#1911753 - 04/04/14 03:29 PM Re: Homeowmership Counseling lrocha
RR Joker Offline
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RR Joker
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The Swamp
Land loans only would not be subject to X or Z HOC requirements.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1911760 - 04/04/14 03:37 PM Re: Homeowmership Counseling RR Joker
lrocha Offline
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Joined: Mar 2011
Posts: 23
So your saying it would not apply in this case

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#1911764 - 04/04/14 03:41 PM Re: Homeowmership Counseling lrocha
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
Right, assuming there are no proceeds going towards building a dwelling. wink

I've noticed lately that several posters have not realized that making a loan on 'land' to build a house is not 'land only'.
_________________________
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#1911769 - 04/04/14 03:46 PM Re: Homeowmership Counseling RR Joker
lrocha Offline
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Joined: Mar 2011
Posts: 23
Thanks

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