If the loan funds will buy another lot, and that's it, it sounds like a "home equity" loan for TRID (yes, in reality it's a "land equity" loan, but that isn't an option under TRID). ETA: and this is assuming that you will NOT include the lot that they decide to purchase as your collateral. If you did, it would be a purchase for TRID.
Last edited by raitchjay; 05/08/18 08:16 PM.
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I'm fixin' to fix that.