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#1534670 - 04/12/11 08:55 PM Respa-1-4 Family dwelling to be razed
SherylB Offline
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Joined: Feb 2005
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Texas, USA
One of our lenders approved a short-term loan to purchase a residential lot for borrower's construction of a new homestead at a later date. Construction is not part of this loan. The lot currently has a vacant 1-4 family dwelling on it, which is to be razed. Is RESPA applicable?

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RESPA
#1715403 - 06/28/12 04:50 PM Re: Respa-1-4 Family dwelling to be razed SherylB
Live 2 Comply Offline
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I was attempting to research the same thing. Would RESPA apply?

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#1761525 - 11/28/12 03:11 PM Re: Respa-1-4 Family dwelling to be razed SherylB
Tesla Offline
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What did you guys decide on this?
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#1761547 - 11/28/12 03:35 PM Re: Respa-1-4 Family dwelling to be razed SherylB
RR Joker Offline
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The Swamp
Originally Posted By: SherylB
One of our lenders approved a short-term loan to purchase a residential lot for borrower's construction of a new homestead at a later date. Construction is not part of this loan. The lot currently has a vacant 1-4 family dwelling on it, which is to be razed. Is RESPA applicable?


My answer to this question would be: If it's short term (and not temporary)...yes, RESPA would apply.
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#1761690 - 11/28/12 05:23 PM Re: Respa-1-4 Family dwelling to be razed SherylB
Dan Persfull Offline
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Bloomington, IN
Ditto RRJ.
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