So, you both feel that the sole member of the LLC being the same person as the grantor of the living trust is not an indicator of being a common consumer? And that it would seem to be a purchase from an entity for the TRID purpose? No
If the QC is already done then the [new] borrower already holds an ownership interest and therefore, would not be purchasing. However, you still don't have a refi because it's different borrowers. My opinion is that you have an HE.
(a) Refinancings. A refinancing occurs when an existing obligation that was subject to this subpart is satisfied and replaced by a new obligation undertaken by the same consumer
. A refinancing is a new transaction requiring new disclosures to the consumer. The new finance charge shall include any unearned portion of the old finance charge that is not credited to the existing obligation.
In our original post you state: An LLC currently owns the property . Who is currently the borrower? Perhaps I'm missing something important.