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Texas Refinance Question

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lori_gentry Joined: 26 Feb 2009 Posts: 1 1.58 Dollars($)	Posted: Thu Feb 26, 2009 1:34 pm    Post subject: Texas Refinance Question Like 0 Dislike 0 Can an original mortgage, taken in '02, be "extended". I have a title policy I'm reviewing and item 10, refers to the existing lien and further states: "said lien is a renewal and extension of Deed of Trust dated 3/5/02." Also, is it an acceptable practice in the state of Texas to allow for a Mechanic's Lien to be subordinated to a new first lien?
jameshogg Joined: 20 Dec 2005 Posts: 10477 Location: Nevada 990.06 Dollars($)	Posted: Thu Feb 26, 2009 9:02 pm    Post subject: Like 0 Dislike 0 Hi lori_gentry, I did not understand what you wanted to say by "extended". You can definitely refinance the mortgage at a lower rate if your property has equity and if you have a good credit score and stable income. As far as Mechanic's lien is considered you will have to check it out with your attorney whether it is considered as an inferior lien in your state or not. If it is considered as an inferior lien, then you can subordinate it. Thanks

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