Can I refinance after I placed my home in a trust? - Jacksonville Refinance
When refinancing on a home it really depends on the name on the Deed of Trust. Even when refinancing a home in a trust, generally we will need to take the home out of the trust and then after the refinance is completed, we will have the home placed back into the trust. This is why it is necessary to give a complete copy of the trust to title for review. Now, if the property is in a Living Trust that the A6 law prohibits the refinance and if you try to refinance. Then you will be taking the refinance against the trust and not the property which would be breaking the law. If your home has already been transferred to your trust and it’s in your living name. Then these are the steps to remove a trust. The new lender will be happy to create the deed to get the home out of the trust but they seldom create one to put it back in, making it a probate asset. You need to talk with your lender or attorney to make sure this second transfer takes place and that the house goes back into the trust name after the refinance.
