Legal Question in Real Estate Law in Illinois

Refi and home sale

How long after a refi is one obligated to keep their home? Or is it possible to refi and then sell immediately afterwards?


Asked on 7/14/09, 4:51 pm

3 Answers from Attorneys
Charles Dobra Charles Wm. Dobra, Ltd.

Re: Refi and home sale

Yes

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Answered on 7/14/09, 4:52 pm
Lesley Hoenig Lesley A. Hoenig, Attorney at Law

Re: Refi and home sale

It depends on the terms within your loan and mortgage documents from the refinance. Certain types of loans have penalties if you pay your loan off too soon, some do not. It depends.

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Answered on 7/14/09, 5:50 pm
Burton Padove Indiana and Illinois Lawyer, Burton A. Padove

Re: Refi and home sale

It may or may not be possible. Absent restrictions in the loan documents, you should be able to do so.

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Answered on 7/15/09, 11:50 pm


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