Answer:
Until October 3, 2015 a loan secured by a total of 25 or more acres is exempt from RESPA. The acreage does not have to a single parcel.
Does RESPA Apply to a Mortgage on over 25 Acres?
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Question:
I am making a loan on real estate and I am taking a mortgage on two tracts of land. One tract consists of 30+ acres and the other consists of 1.04 acres and a primary residence. Would this loan be subject to RESPA since I am taking a mortgage on over 25 acres?
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