---

A6 Refinancing Restrictions?

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
msjo62 Joined: 12 Sep 2011 Posts: 1 1.33 Dollars($)	Posted: Mon Sep 12, 2011 9:16 am    Post subject: A6 Refinancing Restrictions? Like 0 Dislike 0 Understand once an A6 always an A6. My HELOC is paid off. my house is valued at about 155k, and have a balance left of 115k. I want to refinance my primary lien/note for 15 years. Are there restrictions which won't allow me to do so?
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Mon Sep 12, 2011 3:48 pm    Post subject: Like 0 Dislike 0 Dont understand your question. What is A6? Please explain so someone can help answer your request. _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Sep 12, 2011 6:58 pm    Post subject: Like 0 Dislike 0 Hi msjo! Welcome to forums! I guess you're talking about Texas A6 loans. However, if you have a normal loan, then you won't face any problems in refinancing it. To know more about Texas A6 laws, check out the given page: http://www.mortgagefit.com/texas/a6loan-law.html . Feel free to ask if you've further queries. Sussane
msjo Guest	Posted: Mon Sep 12, 2011 8:22 pm    Post subject: Texas A6 and Refinancing Like 0 Dislike 0 Yes, I'm sorry... it is an A6 Texas loan. I took out a HELOC, but the balance is zero. The 1st lien (normal) is a 30 year loan with a remaining balance of 115k. I'm wanting to refinance the 30 year loan balance for 15 years, but wasn't sure if I'd have to close the line of credit (HELOC) or ?? Thanks for the quick response
chrisgummerson Community Expert Joined: 29 Apr 2010 Posts: 704 Location: La Palma, CA 9.98 Dollars($)	Posted: Tue Sep 13, 2011 7:47 am    Post subject: Like 0 Dislike 0 I am not sure about Texas, but I believe that you would need the heloc to subordinate, once the 1st loan is paid off, the heloc would take 1st position. The party helping you with your loan should be able to help you get this taken care of properly. Good Luck! _________________ Chris Gummerson Bay Valley Mortgage Group bayvalleymortgage.com 714-367-5125

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0