If Your House is Currently Listed- You Cannot Refinance.

This blog is on Refinancing again. I am only doing this because this has recently come up a couple of times with some of my clients. If your house is currently listed, you cannot refinance.

You must first take it off the market, depending on the bank it may have to be off the market for up to 30 days. If you need to refinance this is not a bad time of the market to do this, since it is a slower time of year. Before you do decide to refinance, make sure you find out if you can actually qualify for this. You must have at least 20% equity in the home, and that is based on what the market is saying your home is worth, not your assessed value. Once this is done and you have refinanced, you can once again put your home back on the market. I hope this helps. Have a wonderful Thanksgiving coming up! ~Gael.

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