Did You know that our wholesale lenders do not consider buying out another owner’s interest in a property as a cash-out transaction?

Cash-out refinancing on a property has been an issue lately due to COVID-19, primarily almost every lender has stopped lending on cash-out refinancing.

Our wholesale lenders do not consider buying out a partner or another owner of a property as cash-out refinance.

  • BOTH Borrowers MUST have jointly owned the subject property for a minimum of 12 months and provide documentation to support this.
  • All parties must have a signed agreement stating the terms of the property transfer the amount of the settled amount to the bought out party.
  • The remaining party CANNOT receive any of the cash-out proceeds.

Contact our office if you have a similar situation and need assistance.

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