How many times can you refinance a mortgage?

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Is there an exception to the seasoning period in CT if the owner has received the property as a bequest. I just( less than 6 months) received real estate from my mother's estate and would like to refinance it- there is no mortgage currently on the property.

savior70 · Posted: Tue Jun 02, 2009 4:01 am Post subject:

Hi

Most lenders would require a seasoning period of 1 year before they allow a new appraised value for the refinance. But some would also allow a seasoning period of 6 months. I'm not aware of any exception to this rule as such. But much depends on your lender. If you have a good credit and you satisfy other elligibility criteria, the lender can relax the seasoning requirements. You can discuss this with different lenders and check out if they can help you refinance in this situation.

gmakerley · Posted: Tue Jun 02, 2009 8:42 am Post subject:

libby, you ought to be able to obtain a refinance at this time. lately, we've been told that we have to season our purchase transactions for at least 4 months before we can allow a refinance, and you've already exceeded that timeframe. furthermore, it's not a situation in which you've received a mortgage that must be seasoned.

and even if 6 months is a hallmark, as savior noted, by the time you end up having a closing, you'll likely have reached that point.

go for it.

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