All Forum Posts by: James Wiltz

BJ and all,

That was the help I needed; thanks for sharing that is perfect.  I simply wasn’t asking the bank the right questions.  

Thank you!

again, looking to finance after the refurb, for the appraised price and not wait 6 months, refurb will be done in 45 days or so

Yes understood, and that’s what the original question is, I’m sure there is a way that this can be accomplished

it will appraise easily for more than the cost + refurb is, the question is trying to do this cash out refi in 2 months instead of waiting the 6 month seasoning period

All the info I have with every bank I’ve called is that’s a federal rule and not bank specific?

Hello folks,

Under contract on a 2nd home with 300k cash due to the hotness of the area, I'm not interested in waiting 6 months to "season" before I'm allowed to cash out refi. Also not interested in the Delayed financing exception as it takes 25% down, has anyone quit claimed a property from their LLC to their personal name to avoid this? Any idea's?

Thank You!

James