All Forum Posts by: Hans Restuccia

J Scott,

Thanks much!!

Joffrey,

Do you know the answer to the following question?

- do you wait 3 business days after the GFE to close for a business loan to a business entity or is that loan exempt?

Joffrey Long-

brilliant- thank you very much!

That is the difficulty- finding enough loans- we always too much money and not enough loans- but networking here may help- yes???

Here is question for HML's out there- do you wait 3 business days after the GFE to close for a business loan to a business entity or is that loan exempt?

Very good question- I can never get a firm answer to such questions but I am told that if it is a commercial loan for business purposes you are exempt from the TILA Act and you do not have to provide the TIL- However, I always do in the abundance of caution- anybody else have a comment on this????

Ann Bellamy is smart lady- what she said above is right on!!!!

my experience is that it is virtually impossible for someone in you position to get conventional financing and you are stuck w/ HML.

that is 0 investment

to J Scott- is possible with enough equity- but rare- or if sell holds 2nd borrower needs ) investment.