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Selling My Home, Too late To refinance?

We are looking to downsize but are not forced to sell. We are not going to take a low offer so I can foresee the house being on the market for a while. Can we refinance in the mean time?We currently have a pay option ARM with a high rate. by jennifer32 from Oxnard, California. May 12th 2010 Reply


Eddie Stephen (EdtheLoanGuy)
#15 ranked lender in Colorado - 24 contributions

That's a good question. Typcially you are not able to refinance with the home on the market. Servicers obviously make their money by collecting interest on your loan, so if your loan pays off within the 1st year, they will lose money and since investors dont like to lose money they all require your house is off the market. The length of time can vary on this requirement, anywhere from 1 day off the market to 6 months off the market.If you get in touch with me i can help you out in more detail.ThanksEddie StephenEddie@edtheloanguy.com 866-218-9696

May 12th 2010
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Gregorio Denny (GVDenny)
#254 ranked lender in California - 380 contributions

The very simple answer is Yes, you can refinance if you pull your home off the market. There are many investors that will do a refinance with your property 1 day off the MLS. Find a qualified loan officer in your state.

May 12th 2010
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