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Texas Cash Out Laws on Refinancing

Posted on: 23rd Jan, 2008 09:52 am
I heard there was a law in Texas that says once you refi and do a cash out you can never do a cash out again on that home. Is that true?
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?
Posted on: 16th May, 2009 05:49 am
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
Posted on: 18th May, 2009 03:24 am
Can a borrower do a cashout if the loan is in a trust?
Posted on: 29th May, 2009 08:05 am
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
Posted on: 20th Jul, 2009 06:46 pm
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 ?
Posted on: 24th Jul, 2010 07:44 am
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?
Posted on: 28th Jul, 2010 10:47 pm
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.
Posted on: 07th Jan, 2011 05:20 pm
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