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#2231208 - 02/18/20 07:46 PM Borrower Wants to Payoff Seller's Solar
Vive Accommodare Offline
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Vive Accommodare
Joined: Apr 2013
Posts: 543
Compliance
Our borrower is purchasing a property from the seller with the property having a solar contract on it. Normally the borrower would assume the solar contract, but our borrower has elected to pay it off. I'm scanning section 1026.38(j) to see if this would fit somewhere in sections K or L, but am not able to put a firm finger on a certain section due to it not being the borrower's payoff.
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TRID - TILA/RESPA Integrated Disclosures Rule
#2231212 - 02/18/20 08:03 PM Re: Borrower Wants to Payoff Seller's Solar Vive Accommodare
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 78,555
Galveston, TX
I think it would be included under Section K adjustments according to 1026.38(j)(1)(v).
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#2231221 - 02/18/20 08:26 PM Re: Borrower Wants to Payoff Seller's Solar Vive Accommodare
Vive Accommodare Offline
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Vive Accommodare
Joined: Apr 2013
Posts: 543
Compliance
That's the way I was thinking, but for some reason it being a seller's item it threw me off. I have a tendency to overthink when it comes to TRID.
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