If you "renew" a temporary construction loan, you are "refinancing" it, right? (I may well be wrong here, if so, i want to learn from my error.) A dwelling-secured loan that replaces a dwelling-secured loan is reportable. That leaves the temporary financing question. If the intent is to pay off the loan by the sale of the house, how does the refinance qualify as temporary financing that anticipates long term financing?
You reference a "future event"......i don't see how that matters. Not trying to be sarcastic here, but the commentary doesn't say "designed to be replaced by a future event", it says "designed to be replaced by FINANCING of a much longer term".
Like i said, maybe (with Kathleen agreeing with you, it's probably more like "definitely") i'm wrong. I know the term "renewal" in general is not a term i use often and may not understand properly. Like you i'm sure, i am trying to learn as i go.
I'm fixin' to fix that.