I think it depends on the following -
1. Does the person holding the contract meet the definition of a creditor - 1026.2(17)
2. If so does the obligation meet the definition of credit - 1026.2(14)
3. In most instances by virtue of the contract the buyer has acquired ownership in the property and the property secures the contract (credit).
1026.37
(ii) Refinance. If the credit is not for the purpose described in paragraph (a)(9)(i) of this section, and if the credit will be used to refinance an existing obligation, as defined in § 1026.20(a) (but without regard to whether the creditor is the original creditor or a holder or servicer of the original obligation), that is secured by the property identified in paragraph (a)(6) of this section, the creditor shall disclose that the loan is for a “Refinance.â€
1026.2
ii. Examples of new transactions involving a previously acquired dwelling include the financing of a balloon payment due under a land sale contract and an extension of credit made to a joint owner of property to buy out the other joint owner's interest. In these instances, disclosures are not required under §1026.18(q) (assumability policies). However, the rescission rules of §§1026.15 and 1026.23 do apply to these new transactions.
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The opinions expressed are mine and they are not to be taken as legal advice.