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#2133266 - 06/06/17 10:19 PM HMDA Loan - yes or no?
Snowgirl Offline
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Joined: Sep 2003
Posts: 709
We have an Agriculture Corporation (son & wife) who are purchasing half of a ranch that belongs to his parents. The deed is currently in the parents name. The loan will be paying off the balance that the parents owe at another financial institution. The grantors on the new deed will be all four as they will each own 50%. Is this considered a purchase (as the son is purchasing half) or a refinance (as the parent's already owned it and we are paying it off)?

Thank you!

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#2133272 - 06/06/17 11:54 PM Re: HMDA Loan - yes or no? Snowgirl
Snowgirl Offline
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Joined: Sep 2003
Posts: 709
Got my answer. Thank you!

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#2134212 - 06/14/17 12:17 PM Re: HMDA Loan - yes or no? Snowgirl
Kathleen O. Blanchard Offline

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Kathleen O. Blanchard
Joined: Dec 2000
Posts: 21,277
And what did you decide?
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#2134542 - 06/15/17 06:38 PM Re: HMDA Loan - yes or no? Snowgirl
JSD Offline
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JSD
Joined: Oct 2000
Posts: 512
USA
Curious to know your answer too...

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