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#1652378 - 01/18/12 08:16 PM Do HPML rules apply?
Game On Offline
Platinum Poster
Joined: Jul 2001
Posts: 566
Marietta, GA
Borrower owns a home in Monroe GA (this was her primary residence up until she put it up for sale).

Borrower is currently renting a home in Athens while house is on the market. If it does not sell within the next few months she will move back into the home.

Lender states this is not subject to HPML OR Right to Rescind because she was not living in the house at the time the consolidation loan is made.

I think it is still her primary residence based on the above information.

I would appreciate some input and opinions- do you consider it her primary residence?

Last edited by UGA Fan; 01/18/12 08:25 PM.
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Lending Compliance
#1652397 - 01/18/12 08:28 PM Re: Do HPML rules apply? Game On
Dan Persfull Offline
10K Club
Dan Persfull
Joined: Aug 2002
Posts: 47,018
Bloomington, IN
It appears to me the rental is a temporary residence and the home she owns is still her primary residence until it sells. We would treat it as her primary residence.
The opinions expressed are mine and they are not to be taken as legal advice.

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