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Can someone refinance twice?

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Icon Mini Profile mc8





Joined: 08 May 2009

Posts: 11

5.70 Dollars($)
Post Posted: Sun Jul 12, 2009 4:19 pm    Post subject: Can someone refinance twice?
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My brother just refinanced his manufactured home to get my signature off his original loan; now however, he has found a piece of property he would like to buy.

He saw an ad on refinancing your mobile home and buying property at the same time; BUT he doesn't think he can do it because of the refinance he just did to get me off as a co-signer.

So my question is, can he do another refinance combining property in with it?
Icon Mini Profile jameshogg
jameshogg




Joined: 20 Dec 2005

Posts: 10148
Location: Nevada
941.94 Dollars($)
Post Posted: Sun Jul 12, 2009 7:49 pm    Post subject:
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Hi mc,

Your brother will not be able to refinance the property immediately again. He will have to wait for 8-10 months in order to apply for another refinancing. Before that, I don't think lenders would be ready to refinance the property again.

Thanks
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