Subject to re-finance? - Posted by Bill

import · January 1, 2006, 9:47pm

Posted by Bill on January 02, 2006 at 12:24:46:

Understood, Thanks

import · January 1, 2006, 9:47pm

Posted by Bill on January 01, 2006 at 22:47:34:

I bought a house subject to, rehabbed and tried to sell. Still have it after 4 months and I am thinking of refinanceing and pulling 20k out of it and then renting or lease option it. There is 50k+ in equity in the house. Is there any laws stopping me from refinancing this house I bought subject to?

import · January 15, 2006, 2:40pm

Re: Subject to re-finance? - Posted by Brenna Gibbons

Posted by Brenna Gibbons on January 15, 2006 at 15:40:30:

Dear Bill,

I work for a lender who does not require any seasoning, meaning that you can refinance 1 day after you settle and pull cash out. Let me know if you need any assistance in the future.

Brenna Gibbons
443-454-0034

import · January 2, 2006, 6:00am

Re: Subject to re-finance? - Posted by Max-Va

Posted by Max-Va on January 02, 2006 at 07:00:20:

There are no laws to stop you from refinancing. You may run into seasoning issues with some lenders. Some lenders will require you own the property for 12 months to use the appraised value. Less than a year they will only lend from purchase price. You may have to talk to many lenders before you find one to do this. A good mortgage broker should know who to take the loan through.