Posted by Max-Va on October 03, 2007 at 05:03:54:
it won’t be possible in todays lending cliamate.
Seasoning rules have tightened so unless you have 12 months on title a refi is almost impossible.
There are some ways to do this. Seek a creative RE attorney for advise
Quit claim property then refinance… - Posted by Aj
Posted by Aj on October 02, 2007 at 21:44:50:
I was suggested this by another investor as a tip for a deal I am working on: he said “just have the owner quit claim the deed to me, and then I will refinance him out of it.” Is this hard to do, can you go to any regular mortgage broker to handle this.
Aj
Re: Quit claim property then refinance… - Posted by Brian (WA)
Posted by Brian (WA) on October 03, 2007 at 15:54:35:
There is one lender that has no seasoning requirements for loans under 1 mil but they only lend in ten states. So for this scenario one day after you are on title you could refinance.
Re: Quit claim property then refinance… - Posted by Jim (FL)
Posted by Jim (FL) on October 03, 2007 at 07:12:33:
There are lenders that will refinance out of this situation, but they will need 90 days title seasoning.