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tx cash out on 2nd homes

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ckl9988 Guest	Posted: Mon May 12, 2008 1:13 pm    Post subject: tx cash out on 2nd homes Like 0 Dislike 0 Does TX allow cashout on 2nd homes? My property is free & clear. Looking to obtain a 1st.
jbarto65 Joined: 04 Nov 2007 Posts: 622 -0.15 Dollars($)	Posted: Mon May 12, 2008 5:51 pm    Post subject: Like 0 Dislike 0 Please go into more detail?
adonis Joined: 22 Oct 2005 Posts: 10574 Location: ALASKA 1090.82 Dollars($)	Posted: Mon May 12, 2008 9:15 pm    Post subject: Like 0 Dislike 0 Welcome Ckl, I don't think a cashout refinance on second home is allowed in Texas. _________________ Procrastination is the enemy of your financial success
Bill Barrios Guest	Posted: Wed Jul 30, 2008 10:24 am    Post subject: Cash out Like 0 Dislike 0 I bought this property in December 2007 and paid cash for it. Now I would like to borrow money against the property to pay off some debts. Is there a requirement in Texas where you must have owned the property for at least 12 months in order to get a first mortage?
Caron Moderator Joined: 19 Jul 2005 Posts: 1519 Location: florida 281.04 Dollars($)	Posted: Thu Jul 31, 2008 3:58 am    Post subject: RE: borrow against Texas property Like 0 Dislike 0 Welcome Bill. I don't think there is any such requirement in Texas. One cannot refinance a Texas A6 loan if 12 months are not over. But regarding a loan against property when there's none taken earlier, there is no such criteria to be fulfilled. Thanks. _________________ Mortgage Shopping made easy with booklet

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