Cash-out Refinance on a Sheriff Sale Mortgage Foreclosure?

[Ben Chung]

I'm not sure if this varies state to state, but I'm an investor that primarily works in the greater Philadelphia area. One of the avenues I use to buy properties is through sheriff sale mortgage foreclosure auctions, which require all cash to close. That's a substantial amount of money that you have to tie up into a property. Is it possible to cash-out refinance immediately after closing with the sheriff? I see that many HM lenders require a seasoning period, are there any that don't? Let me know your thoughts BP Community!