I have an LLC who is building an 8 unit apartment building and has come up short on funds. The LLC wants a $27,000 loan on a
3 yr balloon/10 yr amort to provide funds for the construction overruns of the 8 unit apartment complex and wants to secure the loan with a different 8 unit apartment complex. First, is this HMDA reportable? If so, is this improvement and I report on the apartment building being improved? The LLC further states that once the building is completed, he will either maintain the building or if the price is right, he would sell if a buyer came along. Any thoughts? Thank you!