Tag: inherited property

How Does Inherited Property Foreclosed Upon Affect the Person Inheriting the Property?

Question: My borrower inherited a property (along with his siblings) after his parents’ passing in 2016. The property was then transferred via a Deed in Lieu of Foreclosure in 2018 in which the borrower is listed on the deed in lieu as the grantor/executor of the estate. Since my borrower was only the grantor through […]

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Cash-Out Refinance Waiting Period on an Inherited Property

Question: Our client inherited a property from her mother and wants to rent it out.  When can she do a cash-out refinance on that property so that she has the available funds to fix up the property? Answer: It sounds like she was awarded the property and should be able to refinance the home into […]

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