New situation for me...
Bank is doing a refi of a loan, paying off a boat and its 'boat slip'. We will have a first lien on a real estate mortgage (the boat slip) and the boat title. There are living facilities on the boat (beds/toilet) but no one will be living on it, other than for an occasional weekend here and there. We are in Minnesota, and I've seen the boat, and no one will be living there...trust me
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The legal description of the boat slip described it as a condominium, and it is part of an association.
Where do I even begin as far as what regs cover this? HMDA? HMPL? Is there a right of recission?
I've been out a few days, and this started without me, so any help would be much appreciated...thanks so much!