It's my day for questions.

I'm looking at a Home Equity loan in the name of one individual. The purpose is to pay off a couple of debts and to "buy ex-girl friend out of house." I just love the way lenders outline a purpose of a loan.

Anyway, the title commitment indicates that the property was co-owned by the borrower and his girlfriend but there was no loan/lien on the property. She relinquished her ownership on a legal document signed at closing. So the Closing Disclosure indicates that he gets the cash, which I assume he gave to her.

Is the purpose "other" or "purchase" since he bought her out?

It would be other. He already had an ownership interest in the home.

Thanks, H-Gal.