Posted on: 22nd Jul, 2009 06:24 am
want to refinance my home and am not clear as to why i am being told that my home can't be in my trust in order to do so?
If it is in the living trust, you can not refinance the property.
why can't it be in a living trust to refinance???
Hi Guest,
As the property is in the name of the trust, the lender will not consider you as the owner of the property. The trust will be considered as the owner of the property. you'll have to remove the property from the trust and then refinance it.
As the property is in the name of the trust, the lender will not consider you as the owner of the property. The trust will be considered as the owner of the property. you'll have to remove the property from the trust and then refinance it.