Posted on: 22nd Sep, 2010 02:17 pm
my husband and i are getting divorced and we both own property in va. it is investment property, we rent it out to tenants. what would we need to do to refinance it and use the equity, plus he will have to take my name off of the deed.
It depends on how much you owe and what the property is worth. Right now, most of my lenders are only financing up to 75% LTV. They usually also require a higher credit score than a primary residence refinance. If you are able to complete the refinance, at closing they would record a new deed.