refinance investment property

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refinance investment property

jameshogg

Posted on: 16th May, 2009 09:21 pm

i'm trying to refinance an investment property i have 5 properties total.and have been turned down for a refinance due to most banks are wanting 6 months reserves on each property is there any way around this?

Total Reply : 2

Hi charette,

Keeping in mind the present market situation, it would be difficult for you to get a refinance. If you do not have the 6 months reserve, then lenders won't be ready to give you a refinance. However, you can speak to the lenders of this community and seek a no obligation free mortgage consultation and get to know whether you can qualify for a refinance.

Thanks

jameshogg

Posted on: 16th May, 2009 10:58 pm

6 months reserves on EACH property?

Local portfolio lenders may be willing to take a look at this. Let us know what state you're in. I hope this helps...

JKennedySLG

Posted on: 19th May, 2009 11:43 am

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