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#1658366 - 01/31/12 04:46 PM REO property sold on a contract for deed
gunches Offline
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Joined: Dec 2005
Posts: 210
Bank foreclosed on property and sold it on a contract for deed. Title transfer was not completed, property remains in bank name. Is this loan HMDA reportable?

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#1658551 - 01/31/12 07:11 PM Re: REO property sold on a contract for deed gunches
Dan Persfull Offline
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Dan Persfull
Joined: Aug 2002
Posts: 47,680
Bloomington, IN
You made a loan (contract for deed) to purchase a dwelling secured by a dwelling therefore it meets the definition of a home purchase.

And before you counter it is a contract for deed and not a loan you need to go to Reg Z and review the definition of a creditor and the definition of credit.

Hopefully you made all your required disclosures under RESPA and Reg Z.
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The opinions expressed are mine and they are not to be taken as legal advice.

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