Cash out refinance after owner financing

[Daniel Fisher]

I purchased a house on owner financing, I then fixed up the property and plan on doing a cash out refinance. I have been having an issue with banks wanting to refinance the owner financing loan. Are there any rules that you know about that would make this refinance an issue? Why is my lender saying this isn't possible? They say I could get a hard money loan on it then they can refinance that but cant due it for the owner financing. 

Very confused about it all.

Any advice on this would be appreciated. Thanks