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Updated about 4 years ago on . Most recent reply

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14
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0
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Pedro Florentino
  • Investor
  • Miami, FL
0
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14
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Cash our refinance investment property

Pedro Florentino
  • Investor
  • Miami, FL
Posted

Does anyone have a work around for cash out refinancing investment property without the 6 months reserves requirements for all investment properties? here is my problem. I have a condo with sufficient equity to tap into for cash. The problem is that I also have 6 other investment properties, Fannie Mae guidelines requires that I hold 6 months PITI reserves for all investment properties in order to refinance. The total reserves required comes out to 80K or more, unfortunately I don't have this amount sitting in my bank account. Can anyone suggest another idea on how I can get cash out without having to sell the unit?

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