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#1405580 - 06/18/10 04:21 PM Reportable??
Relax Offline
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Joined: Jul 2007
Posts: 571
Customer request money to build a beauty shop onto the back of her house. The house is collateral. The beauty shop square footage is much less than the house. Should I report this as home improvement?
"I like a little rebellion now and then. It is like a storm in the atmosphere." -Thomas Jefferson

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#1405604 - 06/18/10 04:39 PM Re: Reportable?? Relax
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 46,832
Bloomington, IN
We would not report this loan. The purpose of the loan is to construct a commercial space.

As a side note I assume the zoning laws will allow this.
The opinions expressed are mine and they are not to be taken as legal advice.

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#1405912 - 06/19/10 05:44 PM Re: Reportable?? Dan Persfull
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
FWIW, I agree.
David Dickinson

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#1409187 - 06/28/10 09:18 PM Re: Reportable?? David Dickinson
West Coast Comp Offline
Gold Star
West Coast Comp
Joined: Jun 2010
Posts: 350
Lost in the rain.
Not that my comment is worth anything compared to Dan and Dave, but I agree with them.
Where I go there I am. smile

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