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refinancing a home

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rick1 Guest	Posted: Thu Aug 13, 2009 5:57 pm    Post subject: refinancing a home Like 0 Dislike 0 I have been told that in texas you cannot refinance you home if it has been on the market for sale until it's been off the market for 6 months. Is this true? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Thu Aug 13, 2009 7:37 pm    Post subject: Like 0 Dislike 0 Thats not correct. I am not sure who is telling you this information
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Fri Aug 14, 2009 2:59 am    Post subject: Like 0 Dislike 0 Hi Rick, I believe what you have been told is correct. Most lenders would want the house to be taken off the market for a certain period of time before offering a mortgage or a home equity loan. The house is the only gurantee for the lenders that they will be able to recover the loan amount. If the lender knows that you are not going to own the property for long, they will never want to give you a loan. The time period for which the property needs to be taken off the market before financing, depends on a particular lender. Some may want the house to be off the market for 6 months, while others may be satisfied with 3 months or less.
sunnyca2009 Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)	Posted: Fri Aug 14, 2009 7:30 pm    Post subject: Like 0 Dislike 0 Thats very interesting Thank you for correcting my assumption

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