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Is it possible to get a mortgage on a property while abroad?

I have a property that I own free and clear that I would like to refinance. I would like to mortgage the property as quickly as possible but I will be leaving the country soon. Is it possible to initiate a loan application and close while abroad?
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August 13 2012 - Staten Island
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Answers (1)

Probably unique to Texas, but a Cash Out refinance must be closed at a title co..... if your state has no such requirement, you could close while abroad but it is likely to be cumbersome. Notary is required on a few documents, and time could be a factor on getting docs signed and back to the title co/atty.  You would want to fill out all loan documents before you left, and provide all of the documentation that is going to be needed/required.  An option to consider is Power of Atty if allowed. (not in TX which is another example of in- state lender being preferable)
All of this is assuming your going abroad is temporary, and does not impact employment, residency status, etc.
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August 13 2012
 
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