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Is it possible to refinance with cash out if your home has been recalled more than three months. ?
I have a balloon payment coming on September 9 and would like to refinance with recovery. The bank told me to cash out 80% LTV and at least three months out of the market. Now they are changing there tune. It said that since the house has not been recalled for more than six months have to leave my 70% LTV, are legally aloud to no change of tune after paid my fees lock type of work and signed the paper.
If you read the contract, will certainly have included a text as "the bank has the right to modify these (rules of refinancing) conditions from time to time with proper notice. "In effect, what you signed gave him the right refinancing under certain conditions, but conditions can change a little.
Direct Marketing 101 Defining Your LTV