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Refinance

Question: 
If the borrower on the old loan is an individual and he wants to refinance the loan and put it in his company's name (he is sole owner) would that be a refinance?
Answer: 

A refinance must involve the same borrower. Generally a business is a separate entity. A corporation, even if solely owned by the original borrower, is a separate entity.
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First published on 02/25/2018

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