Comments on: Selling my house – Can I refinance at the same time? http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time Sell house by owner. How to sell your own house. Thu, 22 Sep 2011 00:00:27 +0000 hourly 1 http://wordpress.org/?v=3.1.4 By: unisberkensap http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-150 unisberkensap Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-150 Many retail regional banks don't care if your house is on the market or not; Academy Bank, Liberty, TCF, any State Bank, or similar. Closing costs can be as low as $300.00. Many retail regional banks don’t care if your house is on the market or not; Academy Bank, Liberty, TCF, any State Bank, or similar.

Closing costs can be as low as $300.00.

]]> By: newjerseyguy http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-151 newjerseyguy Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-151 You'd be better off lowering your price to sell the house quickly. Each month you continue to make a mortgage payment is money out the door. You’d be better off lowering your price to sell the house quickly. Each month you continue to make a mortgage payment is money out the door.

]]> By: Real Estate Guy http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-152 Real Estate Guy Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-152 Usually you can't because the lender knows that you plan to sale and they don't want you to pull the equity. Plus the cost to refin would cost more then the "savings" on a lower payment each month. Usually you can’t because the lender knows that you plan to sale and they don’t want you to pull the equity.

Plus the cost to refin would cost more then the "savings" on a lower payment each month.

]]> By: !!! http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-153 !!! Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-153 Theoretically yes. Take the "for sale sign" and any else off the property that MIGHT suggest the property is for sale. A lender may not refi if they know the property is for sale. Theoretically yes. Take the "for sale sign" and any else off the property that MIGHT suggest the property is for sale. A lender may not refi if they know the property is for sale.

]]> By: Mary B http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-154 Mary B Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-154 Banks won't refinance a house that has been on the MLS or listed with a Realtor. Keep in mind that information is part of a regular appraisal, and banks require a house to be off the market anywhere from 6 months to a year. Appraisers have access to MLS. If you have been doing it by FSBO, then you should be fine. Even if you were allowed to refinance, the prepayment penalty would nix any savings that you would potentially have...it would be like throwing THOUSANDS of dollars in the toilet. Banks won’t refinance a house that has been on the MLS or listed with a Realtor.

Keep in mind that information is part of a regular appraisal, and banks require a house to be off the market anywhere from 6 months to a year. Appraisers have access to MLS.

If you have been doing it by FSBO, then you should be fine.

Even if you were allowed to refinance, the prepayment penalty would nix any savings that you would potentially have…it would be like throwing THOUSANDS of dollars in the toilet.

]]> By: glenn http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time/comment-page-1#comment-155 glenn Sat, 25 Jul 2009 20:30:50 +0000 http://sellmyhousequicklytm.com/selling-my-house-can-i-refinance-at-the-same-time#comment-155 If you need money you might consider getting what people call a "bridge" loan. They are short term loans against your old house. They usually balloon in six months or a year and you only pay the interest in the mean time. The interest is higher than a mortgage but it is lower than a credit card. They call them bridge loans because they are designed to bridge you from one home into the other. Check with your local bank. If you need money you might consider getting what people call a "bridge" loan. They are short term loans against your old house. They usually balloon in six months or a year and you only pay the interest in the mean time. The interest is higher than a mortgage but it is lower than a credit card.

They call them bridge loans because they are designed to bridge you from one home into the other.

Check with your local bank.

]]>