Answer:
If the loan qualifies for the agricultural or business purpose exemption outlined in 1026.3 then the loan is exempt from Reg. Z and its requirements.
ROR Apply to Agriculture 1st Mtg. Land Purchase?
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Question:
Does ROR apply to an Agriculture 1st Mortgage land purchase loan when taking a 2nd mortgage equity lien on the borrower's residence? Borrowers are not full-time farmers and the loan is made to them individually (not a corporation or "business").
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