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#1857521 - 10/02/13 08:15 AM temp financing w change in title
Em Offline
100 Club
Joined: Jan 2004
Posts: 125
Omaha, Nebraska
Doing a purchase and remodel loan to individual. Part of the proceeds will be used for the purchase therefore a change in title will take place. The financing is temporary until the remodel is complete and thrn will go to permanent financing with a different lender. Because it is temporary financing are we subject to any early disclosures?

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RESPA
#1857553 - 10/02/13 01:44 PM Re: temp financing w change in title Em
RR Joker Offline
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RR Joker
Joined: Nov 2002
Posts: 20,656
The Swamp
No, the title change relates to construction loans. Since you have a permanent takeout, your loan should qualify as temporary, assuming it does not have P&I payments and is short-term.
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