Would the following scenario be considered a refinancing under Reg Z and therefore require re-disclosure?
*Mobile Home NO land - principal dwelling
The current loan is a fixed rate fully amortizing loan for 15 years. We are modifying the loan to allow for 6 months interest only, while they try to sell and then revert back to P & I after 6 months if the home has not sold. We are not changing the original term or the interest rate. Therefore, there will now be a balloon payment due at the end of the loan