Posted on: 08th Apr, 2009 09:18 am
the propriety we've purchased 8 years ago has 2 parcels in two different communities with two different tax id, communities’ dues, etc. we want to refinance our mortgage and in the process to split the deed. what is the process? one parcel has our home residence and the other is only a lot. please advice.
thank you
thank you
I you wish to know more about you problem you must visit following URL to get satisfied to know abiout refinance you mortgage
.
http://www.mortgagefit.com/refinance.html
There you can know more.
I hope you will be satisfied by my post.
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Thakns.
.
http://www.mortgagefit.com/refinance.html
There you can know more.
I hope you will be satisfied by my post.
*---*---*---*---*---*---*---*---*---*---*---*
Thakns.
Hi oanasmith,
As there are two different collateral, the lender will not be ready to refinance both of them into a single loan. In my opinion, you can take a combined cash out refinance loan. Then you can pay off the lot loan with the help of cash out loan. However, you should remember that the person who owns the lot will be on the safer side as his/her loan will be paid off.
I don't think this transaction to be a good deal. However, if you feel that I did not understand your situation, do let me know.
As there are two different collateral, the lender will not be ready to refinance both of them into a single loan. In my opinion, you can take a combined cash out refinance loan. Then you can pay off the lot loan with the help of cash out loan. However, you should remember that the person who owns the lot will be on the safer side as his/her loan will be paid off.
I don't think this transaction to be a good deal. However, if you feel that I did not understand your situation, do let me know.
