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#2108151 - 11/21/16 07:33 PM Home Improvement??
rrush Offline
Joined: Dec 2011
Posts: 74
We are doing a term loan and paying off a 1st mortgage and a HELOC that was used for home improvement. (NOTE: we do not report HELOC's) Would the HMDA purpose be home improvement or refinance?

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#2108164 - 11/21/16 08:32 PM Re: Home Improvement?? rrush
RR Joker Offline
10K Club
RR Joker
Joined: Nov 2002
Posts: 20,644
The Swamp
Refinance. None of the proceeds are going to 'new' HI's.
My opinion only. Not legal advice.

Say you'll haunt me - Stone Sour

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#2108204 - 11/21/16 11:05 PM Re: Home Improvement?? rrush
David Dickinson Offline
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David Dickinson
Joined: Nov 2000
Posts: 18,762
Central City, NE
I agree, FWIW.
David Dickinson

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