Answer:
Review 226.3 and its Commentary. Business purpose loans are exempt from Reg. Z.
First published on BankersOnline.com 2/7/11
Paying Commercial Taxes on HELOC
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Question:
In a first lien home equity loan against a dairy and primary residence where the funds are to pay commercial taxes, not for a consumer purpose, would the escrow requirements under the HPML come into play?
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