Refinance deed restriction

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I've heard it said here and elsewhere that banks sometimes have deed restrictions that in addition prohibiting resale, also prohibit refinancing for a period of a couple months after the purchase of an REO. Does anybody have an example the deed language used?

Specifically, I’m wondering what happens if a property is refinanced within that time period, does the owner take the hit or the lender? Could an unsuspecting private lender somehow lose the property as collateral for the loan?