Posted on: 23rd Jun, 2008 12:51 pm
i refinanced my home in 2004. i have applied for a home equity loan, and have been told that texas law prevents one from getting a home equity loan if they have refinanced in the past.
I'm not familiar with TX law but am I understanding that once you have refinanced a loan the only way to close that loan is to make enough payments to pay it off? You are unable to refinance that loan?
TX does not allow cash out refinances abve 80% of the homes value.
This may be your issue.
Brian
This may be your issue.
Brian
Brian, thanks for the info!
Hi gorillasteve,
I do agree with Brian here. Perhaps you are concerned with the fact that in Texas, you cannot do a cash-out refinance worth more than 80% of the home value. This is what the Texas A6 law states . Also, a home cannot have more than one Texas home equity loan at a time.
Hope this helps...
God bless you.
Samantha
I do agree with Brian here. Perhaps you are concerned with the fact that in Texas, you cannot do a cash-out refinance worth more than 80% of the home value. This is what the Texas A6 law states . Also, a home cannot have more than one Texas home equity loan at a time.
Hope this helps...
God bless you.
Samantha
Lynnette, I wish you did your homework before making any comments..you are wayyyyy off...
you stated: "I'm not familiar with TX law but am I understanding that once you have refinanced a loan the only way to close that loan is to make enough payments to pay it off? "
..... a friend read it and had a hard time thinking she cannot refinance her home to pay her bills....
brian hit it on target...
you stated: "I'm not familiar with TX law but am I understanding that once you have refinanced a loan the only way to close that loan is to make enough payments to pay it off? "
..... a friend read it and had a hard time thinking she cannot refinance her home to pay her bills....
brian hit it on target...
Juan, I'm sorry you & your friend had a problem. Notice the question mark? I was only asking a question not making a comment!