Re: Same loan on LAR twice?


The loan officer tells me the current house (the one being used as collateral) has sold and will close this month and this loan will most likely be paid off this month, so both loans will happen to be short term even though they weren’t set up that way. I was thinking report only the second one as a purchase because essentially they are using all the funds from the second loan to purchase the other home…then not report the first at all….