Ask Shop Rate: Effie - MA

Posted by  on Apr 16, 2009
I live in...Massachusetts. My house has been for sale for 14 months. The current interest rate is low enough to think about refinancing…A mortgage company said I can not refinance to take this benefit because my house has been on the MLS…Is this true? Generally, if you are not taking cash out, you can refinance as long as the listing has been cancelled and expired for 30 days. If you are taking cash out, you’ll need to wait 90 days. Whether you feel it is in your best interest to cancel the “for sale” listing and refinancing, or keeping the house on the market is something you need to decide and talk over with your Realtor.

We wish you the best of luck either way!


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