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Updated over 4 years ago,

User Stats

313
Posts
68
Votes
Tim Kaminski
  • St. Petersburg, FL
68
Votes |
313
Posts

Did I miss my shot? Lender cancelling Cash Out Refi

Tim Kaminski
  • St. Petersburg, FL
Posted

I started a cash out refinance right before the Coronavirus craziness happened and was told today that the lender wouldn't be able to close on it now due to my duplex investment property being a property type that they couldn't pass their "net-tangible benefit guidelines" with.  Just told me an hour ago via text and needless to say, very upset as I feel I have been strung along for the past month.

Moving forward, are home prices going down/Did I miss my chance to refinance and pull cash out for next property?  I only have this one property and was really banking on money from this deal to buy my second.  Or do I still have time?

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