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Refering to Steve’s Investing Tip on page 208:
“A critical point to note is that once you’ve sold a property under a wrap, you are not allowed to refinance your loan.”
Why is it that you are not allowed to refinance your loan?
Simon
There will be others who can tell you the exact legislation, but it is by law that you cannot refinance, as you have sold it. Your loan must always remain less than the wrappee’s too.
Cheers
Mel
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