Getting Out

I am re-financing at 100% to value, This is needed to remove all other debt. Divorce is emminate so the payment is at its limits of affordability, To sell emmediately after the refiance would let me walk away with a better position financialy and then buy a less expensive home I can afford. Can you refinance and then sell emmediately with no penalties?

Comments(2)

  • regal23rd July, 2004

    Yup. Ask the lender if the refi has a prepayment penalty. If it does, ask if it's 'hard' or 'soft'. If it's soft you can still sell with no penalty. Hope this helps.
    Di

  • Stockpro9924th July, 2004

    The problem is the closing costs, if equity is thin then you may eat it up with closing costs on a refi and then sale.
    [addsig]

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