The dad borrowed money to construct a building...unless temporary or non-dwelling secured (and if your bank doesn't classify and report non-dwelling secured HI loans), that loan was reportable as home improvement.
The son took out a 2nd lien to pay off dad's note: if i'm understanding correctly, not reportable, as a dwelling-secured loan is getting extinguished, yes, but your borrowers are not the same (dad on first loan, son on 2nd).
Last edited by raitchjay; 02/13/14 09:54 PM.
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I'm fixin' to fix that.