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  1. M

    Would banks consider this a refi?? Any way to get around it??

    hmmm, the money we get from the bank will go straight back into the LOC where the money was taken out from....would this be ok? technically it would be going to us first and then we put it back into the LOC..... didn't think it was this complicated :confused: any accountants here that...
  2. M

    Would banks consider this a refi?? Any way to get around it??

    we're drawing money down from LOC that is used for business purposes only....every part of that loan is business related....so would it still make a diff if the loan is to repay us for the tax deductible debt we incurred when we drew down on the LOC to settle on the IP?? we buy in personal...
  3. M

    Would banks consider this a refi?? Any way to get around it??

    Hi SS'ers :D There's a house we wanna buy and settle in 2 weeks. Given this is an unrealistic timeframe for banks to process the loan app and settle, we were thinking to pay cash for it first and then take a loan out against it immediately after. Vendor has no mortgage against it and we have...
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