Refinance Scenario

[unkfrank]

This is in Maryland... basic information: house originally purchased in 2000. Put for sale on the market approximately 1 year ago. Trying to refinance instead of selling due to separation/divorce. She is removing her name from the mortgage, and he is being told that the house has not been on the market long enough to refinance. Is this a common occurrence, or have I misunderstood the scenario?

[DallasLoanGuy]

yes, this is typical. banks dont want to lend on a home that has been recently listed. because they fear that you will sell it very soon. they will lose money on the loan if you arent in it for a while'

[unkfrank]

Duly noted and filed under the "Ya Learn Something New Every Day" tab.

Thanks mucho DLG!