Refinacing a free and clear property/Seasoning Requirements

[Deandre P.]

Hello All,

Hoping someone may be able to provide some information.  I have a property that I am currently in the process of preparing. The deed was transffered to me a few weeks ago, it was a family property that was sitting vacant. The funds used to fix up the property came from a personal loan that I took out.  Originally, I was going to reifnace and take cash out to pay off the persoanl loan, however I have sopken to a few lenders and they mentioned I would need to be on the deed for 6 to 12 months before I could refinance.  I am needing to refiance this personal loan as soon as possible becuase the interest rate is fairly high.  Does anyone know any way around the six month seasoning requriement? Is this typical for all lenders? etc.  Any input would be greatly appreciated.