If the existing mortgage will secure the loan, then you have a interest in real property and all TRID disclosure would apply.
Vehicles to Pay Off CC-RE Disclosures
I have a borrower who wants to pay off credit card debt with a consumer loan from our institution. The collateral in this case would be two vehicles and I would like to reference an existing mortgage that is on a rental property (owned by my borrower's father.) The borrower is not the owner of the RE 1-4 family rental property. What RE disclosures do you see need to apply?
First published on 04/22/2018