I inherited property at the end of last year and want to refinance it for cash, but lenders have told me I have to wait 12 months. Is this true? Is there any lender who can do a refinance before then?
Boston,MA | Feb 2nd 2011
by earhart...
Answer
by Joe Shamie
by don@ucl...
by dlee@in...
by dlee@in...
by PatrickM
HelloThe waiting period depends upon several things. Since this is an inherited property, if you lived in it or are occupying it now as your primary residence, you should be able to cash out up to 70% of appraised value with little trouble.If this is not your primary residence, you will probably have to wait 6-12 months minimum.Hope this helps.Patrick McCarthyNorthpointe Bank866-901-3576 Feb 3rd 2011 |
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