Taking over a mortgage and refinancing
Hi everyone! I'm new to real estate investing so I have what might be a newbie question. So I have a friend who wants to sell his home pretty soon. The house was purchased in 2009 for around $20K - $40K less than what it is worth now. Would it be possible for me to 1) take over his loan, and then 2) refinance immediately or would I have to wait to refinance and how much time would I need to wait? Thanks!