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Mortgage Community Forums | Announcements Feedback and Our Pub | Info on Cash out on second home in Texas

Info on Cash out on second home in Texas

Posted on: 07th Feb, 2009 07:22 pm
I want to do a cash out refi on my second home in Texas that has an ARM that is due to change in 2 months. I have been told by my "new" broker that cash outs on second homes are not allowed in Texas. I have searched the A6 laws to validate but am confused.
as far as i know, a texas cash out refinance is not allowed if you have two mortgages in the same property. you can speak to the other lenders of your area and check if they can give you a cash out refinance.
Anonymous
Posted on: 13th Feb, 2009 12:21 am
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