Posted on: 12th May, 2010 04:15 pm
I have been looking for a rental home, and found one that was perfect. Filled out all of the paper work, and was waiting on the owners of the property to move out. In the mean time they refinanced the house, and now they say they have to live in the house for the next year before they can do anything because of the bank. Is this true?
Welcome montbm,
There can be state specific law wherein a borrower can't rent a property immediately after a refinance. If the lender has placed such a condition, then it's better that the owners should not place a tenant on that property.
There can be state specific law wherein a borrower can't rent a property immediately after a refinance. If the lender has placed such a condition, then it's better that the owners should not place a tenant on that property.