We have several spec construction loans that have not sold. The contractors have requested we term out the loan so they have an opportunity to sell them or lease them to sell and if they qualify we have done as follows: we left the original Deed of Trust in place, renewed the original note with changed terms, so the borrowers must now make P & I payments 30 year amortization, but a balloon in 3 years..
Is this HMDA?
If yes, a refi? or? Any help please!