Posted on: 17th Feb, 2009 06:57 am
so the last time i refinanced my home was 2002 which i took a little bit of cash out to put on another room to my home. now i have a bank saying they cant do my loan because i took cash out before? im not looking to take cash out again, i have a 760 credit score, 10 debt ratio, and am using only 40% ltv with closing costs. can anyone tell me if they are wrong? i though the a6 was put in place to not refinance all the time. like 1 year you can refi? need help asap.
Hi murph,
I don't think your lender is wrong. As far as I know, you can refinance a cash out loan with another cash out. Moreover you can refinance a Texas A6 loan only after a year. To know more about Texas A6, check out the following link:
http://www.mortgagefit.com/texas/a6loan-law.html#23849
Thanks.
I don't think your lender is wrong. As far as I know, you can refinance a cash out loan with another cash out. Moreover you can refinance a Texas A6 loan only after a year. To know more about Texas A6, check out the following link:
http://www.mortgagefit.com/texas/a6loan-law.html#23849
Thanks.