Texas Cash Out Laws on Refinancing

i tried to refi after cashing out in 2006. i was told tx. law would not allow refinance of the same property after cashing out. the attempt was made may 2009. what are my options now and or future?

Hi whr,

Did you contact any other lender? Texas A6 laws may not allow you to do a cash-out refinance for a second time on the same property, but I think you can do a regular refinance on the property after a cash out refinance given there is enough equity in the property. Contact your local lenders and discuss this with them.

Thanks,

Jerry

Can a borrower do a cashout if the loan is in a trust?

Is it a Law that you must have 3 of 5 public utilities?Our home was bulit in 2004 and has a state approved Aerobic Septic system, private deep water well and we have electic with TXU

if a client has had a previous cash out refinance can they do the next refinance (no cash) in the convenience of their home with a notary ?

Heard a lot about once a cash out always a cash out in TEXAS the GREAT. Can someone tell about the lawmakers' brainwave behind such a law?

You have to close at an attorney's office if you are doing a cash out loan. Once you have taken cash out before, it is always a cash out. So if you are refinancing & getting no cash, but have done so before, then you cannot have the notary come to your home.