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bmitchellcpa · Joined: 24 Feb 2009 Posts: 1 1.36 Dollars($)

Does the Texas A6 law prohibit refinancing your home if your home is titled under your Living Trust...I am trying to refinance my principal residence which apparently is an A6 loan. The lender has stated that since I put my house in a Living Trust that the A6 law prohibits the refinance. I have to take the house back out of the trust and then I can refinance. (If it's against the law, how come an attorney let me put the house in the trust in the first place?)

Niicss · Posted: Wed Feb 25, 2009 4:11 am Post subject:

Hi bmitchellcpa,

I think your lender is correct in saying that you won't be able to refinance the property if it is in the living trust. If the property is in the trust and if you try to refinance, then you will taking the refinance against the trust and not the property. You will have to take out the property from trust and refinance it.

Thanks.

Posted: Tue Apr 14, 2009 5:40 pm Post subject:

I am trying to refinancing my house and the bank stated that I have to pay the fees because texas law stated that if I used to take out a loan on equity then the fees will apply even though I already paid off that loan

Amy

jenkin7 · Posted: Wed Apr 15, 2009 11:53 pm Post subject:

Hi Guest,

I am not aware of any such law under the Texas A6 laws. If the loan has already been paid off why would you be paying fees for it? Have you talked with some other lenders?

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Does the Texas A6 law prohibit refinancing your home if your home is titled under your Living Trust

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