Refinance a home in a trust

21 Jun 2023 · 1 min

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In this brief video, Jerry Taylor explains that a home placed in a revocable living trust can be refinanced, but owners must first verify that the trust’s language permits refinancing. He advises checking with the mortgage lender, noting that some lenders will allow a direct refinance while others require the property to be removed from the trust, refinanced in the individual’s name, and then placed back into the trust. He acknowledges the extra steps but emphasizes that keeping the property in a trust is worthwhile, and he invites viewers to subscribe to his newsletter for more information.

Chapters

Can you refinance a home that is in a revocable living trust? The answer to that is yes, but there may be a couple of steps you need to go through. First thing is to check the language of your trust to make sure that it contemplates refinancing a property that is held in the trust. Next, check with your mortgage company before you do anything. Some mortgage companies will allow you to refinance a home that is in a trust. Other mortgage companies will want you to take the home out of the trust, put it back in your individual name, refinance the home, then place it back in the trust. So there may be a few extra steps, but it's worth it to have the trust. You'll learn more about all this stuff if you subscribe to my newsletter in my profile link.