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All Forum Posts by: Michelle Dickens

Michelle Dickens has started 1 posts and replied 3 times.

Creative Real Estate Financing

Post: Cash-out refinancing to cover inheritance buyout AND remodel?

Michelle DickensPosted
  • Austin, TX
  • Posts 3
  • Votes 0

that’s what. I thought as well. But this lender is saying that they can do the pay off of the mortgage and the Reno portion or my interest but not all three. Does that sound right?

0 Votes
Creative Real Estate Financing

Post: Cash-out refinancing to cover inheritance buyout AND remodel?

Michelle DickensPosted
  • Austin, TX
  • Posts 3
  • Votes 0

Sorry for being unclear. He wants the house to live in it for years - A residence. I don’t want my name on the house, nor does he.

Therefore, commercial loans won’t be a fit. 

0 Votes
Creative Real Estate Financing

Post: Cash-out refinancing to cover inheritance buyout AND remodel?

Michelle DickensPosted
  • Austin, TX
  • Posts 3
  • Votes 0

My brother and I inherited our mom's home when she passed away in December. She had a small mortgage left on it. We discussed selling it, but he now wants to keep it and remodel it (it needs it - outdated, foundation issues).  He's been talking to lenders, but a few of them have said that they can do loans that will pay of existing mortgage AND give money for remodeling, but buying my interest/inheritance is an issue. Evidently they can't do all three things. Is there no other way to do this? Are we stuck?

0 Votes