My local banks like that far more than do cash out refi's on every transaction (which can raise red flags with their auditors even today).So even if the CF was 8% AND if they were to get rid of that stupid rule, it still wouldn't make sense for someone like me.

@Linda Weygant, I'm an auditor and I'm vaguely familiar with taxes.

But even after extensive Auditor website searches and white page look ups I'm at a stand still.How will this benefit the both of us?

Ok, so maybe (maybe) we get away with the regulators breathing down our necks, we are subject to internal/external auditors reviewing the violation of our policies and procedures for disclosing information about a loan to a person not on the loan.

Also remember there are many new and revised laws since the passage of the Dodd-Frank Act.Even as I write this, one of our auditors is going through a pile of Contract for Deed loans that a community owner wants to sell.

Believe me when I say that local assessors are called daily by lenders, bank auditors, and investigators for various government-sponsored programs.

If you want to squeeze a bit of extra money out of the deal as you should, then you need to contact your county auditors office about lowering your assessed value.

If you suspect mismanagement of funds, cut those past accounts off and keep all records.The next thing to do is to enter a statement in the Treasurer's report which is to be made part of the Minutes of Meetings as to the requirement for an audit or that, in your official duties you require an audit.

And, be careful about having a bed in there too...ie, don't use the guest room as your home office unless you can remove the bed before the auditor shows up at your door--they never do surprise audits.  

@Sarp Ka The only thing I can think of is just to use the county auditors' website.