HELP.. 6 month seasoning requirements????

Posted on: Thu, 06/10/2010 - 22:12

barbara2000's picture

Site Regular

Posts: 238

Joined: 2009-07-22

Points: 753

Offline

HELP.. 6 month seasoning requirements????

Has anybody heard of any new seasoning requirements for conventional loans? I was all set up with my mortgage broker who was going to be able to get me into conventional loans right after I purchase with cash. She just found out now there’s a 6 month seasoning on cash purchases. She was going to investigate it further to see if it’s a Fannie mae requirement or what. She suggested I try portfolio loans (credit unions) to see if I can re-fi with them.
I close tomorrow on my first property I bought at auction with my HELOC. Anybody have any suggestions?

__________________

Owen Properties, LLC

by barbara2000
Login to post comments

Posted on: Fri, 06/11/2010 - 01:43 #1

barbara2000's picture

Site Regular

Posts: 238

Joined: 2009-07-22

Points: 753

Offline

Bringing this back up again.

Bringing this back up again.

__________________

Owen Properties, LLC

Login to post comments

DISCLAIMER: Our DG site is here to provide real estate education, training and social networking without the promise/claims of earnings or return on investment. We don't offer tax, accounting, financial or legal advice. Before doing any real estate transaction, you should consult your own accounting, legal and tax advisors to evaluate the risks, consequences and suitability of that transaction. This site accepts and contains posts from our students, readers and the general public that we do not modify but also do not verify. There are no guarantees implied except where specifically stated.