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Re: Parents Home – HMDA Purchase?

Home Forums Home Mortgage Disclosure Act Parents Home – HMDA Purchase? Re: Parents Home – HMDA Purchase?

#2915
Evelyn
Participant

It was a cash-out refi; old mortgage satisfied and replaced. Not temporary financing.

So, I think you’re suggesting to treat it as a refinance rather than a purchase?

But if the parents had no prior mortgage, how would you treat it?