Question

An owner has refinanced his primary residence and decided to take cash out of the loan to buy a fixer-upper. If the closing is scheduled for today (Monday) on the primary residence, how early can the owner close on the fixer upper?

Answer 1

When you are refinancing a mortgage, you get the mortgage contract rescinded (cancel) before midnight of the third business day after the transaction.

As the right of withdrawal is 3 days, he does not obtain the check until 3 working days after the closure which will be Friday.