The secondary market makes special provisions for equity buyouts related to divorce; however, those provisions may not extend to other cash repayments from a refinance mortgage. Further, a gift repayment when originally certified that no repayment would be required could present legal ramifications for the borrower(s).
Jacquie Sullivan (NMLS#1802690) serves the state of Arizona for purchase, refinance, FHA, VA, USDA, renovation loans, debt consolidation, mortgage refinancing, down payment assistance, and more mortgage options.
Feel free to contact us if you have any questions or would like a second option on your existing mortgage.
