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TX A6

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dtay77 Joined: 10 Dec 2007 Posts: 1 1.32 Dollars($)	Posted: Mon Dec 10, 2007 5:21 pm    Post subject: TX A6 Like 0 Dislike 0 I have a client that took $15000 cash out 5 months ago in TX. $6,000 was paid out of settlement for a tax lien on their home. They used the other $8,000 for a federal tax lien. They gave the money to an attorney to try and settle the lien. Would they be able to do another loan b/c the funds were used for tax liens? If so what proof would they have to get from the attorney to show the money was used for a tax lien?
larry Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)	Posted: Mon Dec 10, 2007 7:37 pm    Post subject: Like 0 Dislike 0 Hi dtay, Welcome to this forum. As far as I know a Texas A6 loan can't be refinanced within 12 months and it is only 5 months that your husband has done the refinance. So he can't do cash out refinance now. There are quit a few unique requirements for a Texas A6 loan. There is a discussion regarding these unique requirements in this site. You can check it out- http://www.mortgagefit.com/texas/a6loan-law.html Hope this will help you. Thanks, Larry
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Tue Dec 11, 2007 12:37 am    Post subject: Like 0 Dislike 0 Hello Dtay, Even I agree with Larry. I don't think you can do another cash-out refinance in Texas just after 5 months of taking one.

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