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#910871 - 02/26/08 10:48 PM duh moment...help please
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,359
*Borrowers are taking a loan on their second home, no current mortgage to payoff.
*They're using the funds to payoff the mortgage on their third home.
I'm thinking it's not HMDA but my brain is in rum withdrawal from vacation...either that or I sunburned it! Thanks for the help.

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#910873 - 02/26/08 10:50 PM Re: duh moment...help please Truffle Royale
#12 Offline
Diamond Poster
Joined: Jun 2005
Posts: 1,338
Welcome back Truff! If they are satisfying and replacing a loan secured by a dwelling with another loan secured by a dwelling, it's a refi. The dwellings don't have to be the same!
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#910937 - 02/27/08 01:34 AM Re: duh moment...help please #12
Truffle Royale Offline

10K Club
Joined: Jul 2003
Posts: 17,359
I got confused because the loan is not a refi...until they use the money to pay off a different mortgage, right? Thanks.

(btw, don't worry. I'll drink your share of the rum because it won't last until after Princess is born. )

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#911031 - 02/27/08 02:02 PM Re: duh moment...help please Truffle Royale
#12 Offline
Diamond Poster
Joined: Jun 2005
Posts: 1,338
Thanks, I apppreciate the help on that!
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