Flipping definition

Flipping a consumer home loan means the making of a consumer home loan that refinances within forty‑two months an existing consumer home loan of the borrower when the new loan does not have a reasonable, tangible net benefit to the borrower, considering all the circumstances, including the terms of both the new and refinanced loans, the cost of the new loan, and the borrower’s circumstances.
Flipping means the process of purchasing, renovating, and attempting to sell the property for a quick profit.
Flipping means knowingly refinancing an existing home loan when any of the following occurs:

Examples of Flipping in a sentence

  • Flipping, running and bouncing off the walls is dangerous and can cause serious injury and must be done at your own risk.


More Definitions of Flipping

Flipping means when a person performs, employs others to perform, or for compensation with the intent to sell the structure, arranges to have performed any work described in R.I. Gen. Laws § 5-65-1(3) if within a twelve-month period offers for sale that structure on which that work was performed and who is required to be registered with the Board.
Flipping means the purchase of property, whether or not remodeled or reconstructed after its purchase, that is sold or transferred to a new owner within six (6) months of its purchase.
Flipping or "churning" means making a consumer home
Flipping a mortgage loan means refinancing a mortgage loan within 12 months following the date the refinanced loan was originated, unless the refinancing is in the borrower’s best interest

Related to Flipping

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