Question by Claudio F: I am refinancing my mortgage, can I start to sell the house now?
I am refinancing a ballon to a fixed rate mortgage and in the agreement it says that I have to occupy the property for at least one year after refinance closing. Can I start to look for a buyer now tho?
Answer by David Z
yes. you can sell it in a month if you want. that language is there so that you agree not to turn place into investment property. it does not prohibit you from selling in less than a year
refi is expensive. usually the cost requires 2-3 years to break even.
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