Your lender will not refinance while your home is on the market because they expect you to sell your home within a year and their initial costs to refinance are high. It would take them about a year to recoop their refinance costs so they won't do it.
However, there are certain mortgage brokers who can find you refinancing options through investors. Try checking with a few of them for assistance.
Hi Lynn, the easiest answer is NO as said by all those here, no money in it and if you take your home off the market we believe it has to be off for 3 to 6 months before they will let you refi it. Double check with a mortgage rep on the time frame for that.
Mortgage Companies invest significant $ when a loan is given. Because of this expense they won't give a loan while the Home is on the market.
They will give a loan when the Home comes off the market after 24 hrs has passed, but will require a period of time before it can be relisted for sale.
Lender underwriting guidelines have NEVER allowed a homeowner to refinance while the home is listed on MLS. Many will require at least one day, if not a full month, off the market before it is sufficiently seasoned.