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Updated over 4 years ago,
Refinance cash out with no income
I am looking to do refinance cash out with no income- due to Corona Virus i am laid off temporary and on unemployment for 2 weeks now.
Here is my situation. I have regular sallary 50k. But no because of corona virus im on unemployment for 2 weeks and it might be who knows next few feeks. I have 4 houses total. 1 i have a tenant in starting just may 1st 2020. Another is finished and i will look for tenant now. 2 other houses im renovating.
Can i get refi cash out and how? Is anybody here offering asset based rifi with no income? My tenants will pay rent $1000 and it would cover refi and insurance taxes etc. House is worth 100k i am looking for 70-80k refi cash out.
The house i would refi cash out has no loan. It was all cash deal. Its under my personal name.
Any help please.