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Updated over 7 years ago, 08/12/2017
Personal home refi less than six month owning
Looking for some insights.
I just bought a house finally for myself from a foreclosure and used hard money to purchase the property; they recorded it as a mortgage. So I am renovating the house with my own funds and thought I was going to be able to refinance it but I am being told because I have a mortgage on the property I have to wait six months. So my question is if I pay off the mortgage could I then refinance immediately? If not anyone have any other suggestions to not have to wait the six months? Do I need to just keep talking to banks to find one that will?
Any help would be appreciated. Thanks