Topic: Texas Cash-Out Refinance Laws
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Joe Betro of the Loan Store may have come up with something. According to Joe’s underwriter who underwrites VA loans, Texas Cash-Out rules on VA loans supposedly allows Cash-Out on VA loans if the cash out refinance process goes to pay off debts and the buyer does not get any cash back. If this is the case, it is a game changer on Chapter 13 Bankruptcy buyout in Texaa. Texas currently does not allow Cash-Out Refinance on FHA and VA loans. I will call the state regulatory department in Texaa and see what they have to say as well as the VA.