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Updated almost 6 years ago on . Most recent reply
Is it possible to do a cash out refinance on tenancy in common?
I currently own 12% interest in a duplex and 2% in interest in a single family house, all as tenant in common. Both the house and duplex I co own with my parents and are 100% paid off. They both are owned in different entities (living trusts, charitable foundations, S corp defined benefit plans, and self directed IRA).
I wanted to know if it's possible to do a cash out refinance strictly on my interest? The LTV would be very small ( <10% for the duplex and <1% for the house). Essentially I want to get my money back and do something else with it.
Thanks you for your help!