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BankersOnline.com Forums Dodd-Frank Final Rules Discussions TRID - TILA/RESPA Integrated Disclosures Rule Construction loan/Lot purchase
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#2057045 - 01/06/16 08:46 PM Construction loan/Lot purchase
newyork Offline
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If a customer is financing the construction amount only, put paying for the lot in cash, do we have to include the lot figures anywhere on the loan estimate and closing disclosures?

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TRID - TILA/RESPA Integrated Disclosures Rule
#2057064 - 01/06/16 09:43 PM Re: Construction loan/Lot purchase newyork
rlcarey Offline
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rlcarey
Joined: Jul 2001
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Galveston, TX
Are they buying the lot in a separate transaction?
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#2057066 - 01/06/16 09:49 PM Re: Construction loan/Lot purchase newyork
newyork Offline
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Joined: Aug 2008
Posts: 452
no. they want to do everything at the same time.

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#2057067 - 01/06/16 09:50 PM Re: Construction loan/Lot purchase newyork
newyork Offline
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Joined: Aug 2008
Posts: 452
pay cash for the lot a the same time they are closing for the loan. should they be separated?

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#2057101 - 01/07/16 01:17 AM Re: Construction loan/Lot purchase newyork
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 83,371
Galveston, TX
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The opinions expressed here should not be construed to be those of my employer: PPDocs.com

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