Posted on: 05th Mar, 2012 05:55 pm
I am a Mortgage Broker and I am always confused with Refi Rules. I am currently working with a client that is Refinancing, strictly Rate and Term. She had a previous Refi-Cash Out that will impact with the Texas A6 hit, however the Lender is also pricing and additional hit because of the rule that once a Cash Out , always a Cash out. I understand that the Texas A6 hit should be absorbed but not the additional hit. Can you please help and refer me to a source that can clearly helps me clarify this. Thank you for your PROMPT response
Hi ceciliaw!
Welcome to forums!
It is true that in case of Texas A6, once cash out always a cash out. To know more about Texas A6, you can check out the given page: http://www.mortgagefit.com/texas/a6loan-law.html#23849 . I hope it will help you understand the rules related to Texas A6 clearly.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
It is true that in case of Texas A6, once cash out always a cash out. To know more about Texas A6, you can check out the given page: http://www.mortgagefit.com/texas/a6loan-law.html#23849 . I hope it will help you understand the rules related to Texas A6 clearly.
Feel free to ask if you've further queries.
Sussane