Posted on: 22nd Dec, 2008 05:03 pm
hello,
i currently have a first mortgage of $126,000 and a second for $27,000. the value of the home is approximately $314,000. i know a little about the a6 loans and understand you can not refinance the a6 loan for a 12 month period. however, does this hold true for the the first as well? meaning, can i at least refinance the first and leave the a6 second untouched?
i currently have a first mortgage of $126,000 and a second for $27,000. the value of the home is approximately $314,000. i know a little about the a6 loans and understand you can not refinance the a6 loan for a 12 month period. however, does this hold true for the the first as well? meaning, can i at least refinance the first and leave the a6 second untouched?
Hi John H.,
You are correct that an A6 loan cannot be refinanced within the first 12 months. Moreover, a home cannot have more than one Texas A6 loan on it at a time. So I guess, the first loan that you have is not an A6 loan. In that case, I think you will be able to refinance the first loan. To know more about Texas A6 refinance, check out the following link:
http://www.mortgagefit.com/texas/a6loan-law.html#23849
Thanks
You are correct that an A6 loan cannot be refinanced within the first 12 months. Moreover, a home cannot have more than one Texas A6 loan on it at a time. So I guess, the first loan that you have is not an A6 loan. In that case, I think you will be able to refinance the first loan. To know more about Texas A6 refinance, check out the following link:
http://www.mortgagefit.com/texas/a6loan-law.html#23849
Thanks