Ok, I have been reading and reading 'till my eyes are now burning...I know I have read the section regarding temporary/short term loans (bridge loan in this case) but I can't seem too find it at this moment and my eyes are going crosseyed.
So, my question is...I have a loan that is for 12M loan for cash out too purchase another home, and this 12M loan will be paid off once this home (their primary residence) sells, reportable or not reportable??
I would think it would be reportable under the new guidelines.