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#1379632 - 04/22/10 06:53 PM Construction Loan
nikki_compliance Offline
Platinum Poster
Joined: Mar 2010
Posts: 520
what if you are doing a 6 month construction loan only, but you don't know if you are doing permanent financing should you provide RESPA or say at the end of the term customer decides to go with us to do permanent financing do we provide RESPA then?

thanks alot!!

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#1379639 - 04/22/10 06:56 PM Re: Construction Loan nikki_compliance
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,654
The Swamp
You should go ahead and disclose both phases. By not having a perm takeout from another lender you "may" do the permanent.
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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