New $50,000 loan was an effective refinancing under 1003
New $50,000 loan was an effective refinancing under 1003 2(p) Refinancing step one. Standard. Section 1003.2(p) describes a beneficial refinancing since a sealed-stop home loan or an open-stop line of credit where a new, dwelling-protected obligations obligation meets and you may substitute a preexisting, dwelling-covered obligations duty from the exact same debtor. But given that …
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