All Topics / Heads Up! / Seeking Clarification on Steve’s Investing Tip

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  • Profile photo of AdministratorAdministrator
    Keymaster
    @piadmin
    Join Date: 2013
    Post Count: 3,225

    Refering to Steve’s Investing Tip on page 208:

    “A critical point to note is that once you’ve sold a property under a wrap, you are not allowed to refinance your loan.”

    Why is it that you are not allowed to refinance your loan?

    Simon

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429

    There will be others who can tell you the exact legislation, but it is by law that you cannot refinance, as you have sold it. Your loan must always remain less than the wrappee’s too.

    Cheers
    Mel

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