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#1895485 - 02/10/14 06:50 PM No address on rental property being purchased
GLL Offline
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Joined: Apr 2002
Posts: 192
KY
OK, we have a loan that is being secured by equity in four already owned rental properties to purchase two additional rental properties.

It is my understanding that we are to be reporting the census tract on the property being purchased; however, my loan officer did not get the addresses of the two rental properties being purchased as they were not being used as collateral. Am I okay to list one of the rental properties securing the loan, or does my loan officer need to make a phone call to get an address.

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#1895492 - 02/10/14 06:55 PM Re: No address on rental property being purchased GLL
Truffle Royale Offline

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Posts: 17,359
On a purchase you report the property address of the property taken as security. (GIR p D-12 2.) So you don't need the addresses of the properties to be purchased.

You're thinking of home improvement where you report the address of the property being improved.

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#1895498 - 02/10/14 07:00 PM Re: No address on rental property being purchased Truffle Royale
GLL Offline
100 Club
Joined: Apr 2002
Posts: 192
KY
Thanks Truffle... that is what I was thinking.... I am so glad that I am just about done with this scrub... Now if we can just get rid of this snow I might be in a good mood!

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#1895521 - 02/10/14 07:34 PM Re: No address on rental property being purchased GLL
Truffle Royale Offline

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Someone as far warm as Kentucky shouldn't be complaining about snow to an upper Mid-westerner...just sayin'.... wink

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#1895771 - 02/11/14 03:12 PM Re: No address on rental property being purchased Truffle Royale
GLL Offline
100 Club
Joined: Apr 2002
Posts: 192
KY
Just saying... we Kentuckians live here for a reason... and that reason is not for weather that is colder than weather in Alaska! And normally in KY if you don't like the weather, just wait a day, it changes.... unfortunately, that has not been true this last few weeks... YUCK!

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#1896495 - 02/12/14 06:48 PM Re: No address on rental property being purchased Truffle Royale
Beagles22 Offline
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Joined: Jan 2004
Posts: 3,626
State of confusion
Originally Posted By: Truffle Royale
Someone as far warm as Kentucky shouldn't be complaining about snow to an upper Mid-westerner...just sayin'.... wink


Living close to Truff - this gave me a giggle. grin
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