Updated over 5 years ago on . Most recent reply

Splitting a parcel out of the mortgage
In June I purchased my first property. 2000 sq ft dumpster home on just shy of an acre. The home is zoned R-10 but there were two parcels combined for tax purposes back in the 80's. The county has said they can be split back for a filing fee because they were grandfathered in.
Question is, once I get to the last R in the BRRRR strategy. Is there a way to get this second, now vacant, lot off of the loan so I can own it free an clear?
My mortgage says I cannot sub-divide the property and sell pieces of it, but is there a way to do this when refinancing?
If anybody has info or could point me in the right direction that would be great!
Thanks,