Posted by JandB on 11/14/11 3:04pm
Msg #403893

I learned something today re: RTC

If a refi is done with the same lender as before, say Chase to Chase, a RTC is not required. I just closed a B of A refi on a primary residence with no RTC because BO was going from B of A to B of A.

Reply by jba/fl on 11/14/11 3:05pm
Msg #403894

That can be true, and it can be false. Not set in stone. n/m

Reply by Teresa/FL on 11/14/11 3:08pm
Msg #403895

I believe that is true only if the new loan amount is

the same as the original loan amount.

If there is an increase, then the RTC would still apply.

Reply by Linda_H/FL on 11/14/11 3:12pm
Msg #403896

Yep..same lender, no new monies n/m

Reply by Sylvia_FL on 11/14/11 6:07pm
Msg #403910

Here are the RTC rules:

http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt037.shtm

(same lender, no extra cash borrowed, no RTC)

Reply by jba/fl on 11/14/11 6:24pm
Msg #403913

1,2,3, 4 - FL notaries quick! LOL n/m

Reply by Teresa/FL on 11/14/11 7:20pm
Msg #403928

or we're all either waiting for docs or not busy! n/m