ATR Balloon 2nd

Posted By: MScarn6942

ATR Balloon 2nd - 04/20/17 04:37 PM

I just want to double check - if we have a 2nd balloon mortgage, it's still subject to the ATR rules on balloon loans, right? We'd have to prove ATR if the balloon comes due within the first 5 years?

Thanks!
Posted By: rlcarey

Re: ATR Balloon 2nd - 04/20/17 05:17 PM

Lien position is not an ATR determining factor.
Posted By: MScarn6942

Re: ATR Balloon 2nd - 04/20/17 05:25 PM

That's what I thought - thank you!