(1) the refinance of the debt is an extension of credit described by Subsection (a)(6) or (a)(7) of this section; otherwise (2) every after the conditions is actually fulfilled: (A) the newest re-finance isnt finalized before the earliest wedding of your own big date this new extension out-of borrowing was signed; (B) new refinanced expansion out-of borrowing from the bank does not include the advance out of any extra money apart from: (i) finance advanced in order to re-finance a loans revealed by the Subsections (a)(1) by way of (a)(7) of this section; or (ii) genuine will set you back and you will reserves required by the lender so you’re able to refinance the newest debt; (C) the fresh refinance of your extension regarding borrowing from the bank is actually from a main matter that if set in new aggregate overall of the a good principal balances of all of the almost every other indebtedness secure of the good encumbrances regarding number resistant to the homestead does not surpass 80 percent of reasonable market value of homestead into the date the brand new refinance of the expansion off credit is generated; and you may (D) the lending company comes with the holder the next composed notice toward a great independent document not after compared to 3rd business day pursuing the big date the particular owner submits the mortgage software to your bank and at least 12 weeks through to the go out the fresh re-finance of your own extension of borrowing is finalized: “Your current Financing That you need To help you Re-finance Are A house Guarantee Financing. (more…)