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#1250403 - 09/15/09 06:52 PM No more 50% rule correct?
CHR Offline
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CHR
Joined: Jun 2009
Posts: 122
For example we are refinancing a loan where a manufactured house is on a property of which is a log home business. There are about 4 or 5 building that are used for making of log homes but there is also a manufactured home that the owner lives in. This would be reportable? The lender is saying that since more than 50% of the worth of the land is for commercial use it is exempt. I was almost positive that was the old definition but wanted to be sure. Thanks
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#1250417 - 09/15/09 07:07 PM Re: No more 50% rule correct? CHR
hmdagal Offline
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hmdagal
Joined: Dec 2002
Posts: 3,841
You are correct.

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