Answer:
No. This is not a "residential mortgage transaction" even if you add new money for over runs or other costs. See the definition of RMT in the Commentary to Section 226.2(a)(24)#4.
First published on BankersOnline.com 1/5/04
ROR on Construction to Perm Loan
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Question:
Is a Construction to Permanent loan subject to right of rescission if we also hold the Construction loan?
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