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What is the law in Texas for refinance cash out?

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andy_andydo Joined: 15 Jul 2008 Posts: 1 1.30 Dollars($)	Posted: Tue Jul 15, 2008 9:43 pm    Post subject: What is the law in Texas for refinance cash out? Like 0 Dislike 0 I would like to refinance my home loan to take out some cash to pay off my car payments. Is there the law in Texas that no cash out refinance?
brian1 Community Expert Joined: 14 Jun 2008 Posts: 448 Location: Northern California 15.61 Dollars($)	Posted: Tue Jul 15, 2008 10:04 pm    Post subject: Like 0 Dislike 0 no more than 80% of the homes value may be cashed out. Brian _________________ Licensed Broker 50 states http://www.aimwithfocus.com Live Chat available Need quick advise email or PM Glad to help Pre-approvals www.applyonlinesecure.com
Niicss Joined: 03 Oct 2005 Posts: 4770 Location: New Jersey 499.28 Dollars($)	Posted: Wed Jul 16, 2008 4:54 am    Post subject: Like 0 Dislike 0 Welcome Andy. You can do cash out refinance but it should not more than 80 percent of the home value. Is it your primary residence? For cash out refinance, it should be your primary residence. If you want to know about the unique requirements of cash out refinance in Texas, take a look at http://www.mortgagefit.com/texas/a6loan-law.html Hope this helps. Let me know if you have any more queries. _________________ Good is the Enemy of Great.
kpatrick Joined: 29 Oct 2007 Posts: 155 Location: Atlanta, Georgia 41.72 Dollars($)	Posted: Thu Jul 17, 2008 2:13 pm    Post subject: Like 0 Dislike 0 And you have to wait at least 12 months in between c/o refis. _________________ (770) 886-3140

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