Cashout Refi's In Texas
Can anyone explain to me why cashout refinances are so difficult in Texas? Why especially very recently, and why especially without seasoning?
What a nightmare, I have now put my loan through 4-5 brokers and no one is able to refinance it for me.
It is appraised at 118k, the note is for 85k, and matures in March. We have been requesting a 90% LTV cashout.
I am getting a lot of feedback to the extent that cashout refi's are just really difficult in Texas, and I was wondering if anyone could offer explanation.
Thank You!
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