Subject To Cashout Refinance

[Benjamin Hilliard]

My mom inherited a home in Florida from my grandfather that still had a mortgage of $75000 and the home is worth approximately $135k. My mom has already recorded the deed in her name at the county office last month and now she is giving me the opportunity to buy the home for what is left on the mortgage. Would I be able to do a Subject-To on the home and record the home in my name and do a cash out refinance then use those funds to buy a rental property? I've read about only being able to refinance with a 50% LTV until the mortgage is seasoned but I've also read about an exception about if you can demonstrate a relationship with the obligator (such a family) you are able to refinance at a much higher LTV. Please let me know if this is true and also if you have any other recommendations on the topic.

Thanks!