no seasoning: No Seasoning Cash Out Refinancing for Real Estate Investors
- 08/29/11 06:00 AM
We've waited for this one to come back ... now it's here. If you have investor clients or you are an investor who has paid cash for a property within the last six months this may be good news for you. Of course, as will all things, there are caveats and qualifications. Just a few of which are: The new loan amount can be no more than the actual documented amount of the borrower’s initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV/CLTV/HCLTV ratios for the transaction). The purchase … (2 comments)
no seasoning: Tips Countdown: #24 Seller Seasoning On Title
- 12/07/08 10:39 AM
Mortgage Tip #24 (Counting down to #1) The seller purchased the property at auction on the 15th of February. They paid exactly $65,000 for the property. The listing price they chose is $110,000 which is 15% lower than the most recently sold prices in the neighborhood. They listed the property on the 16th of February and your client makes their offer of $100,000 on the 17th of February. Don't count on getting a loan approval unless the seller has owned the property for 91 days. Unless the seller is the lender who foreclosed on the property or received it into inventory … (3 comments)
no seasoning: Changes In Valuation and Underwriting Methods That Affect YOU
- 04/13/07 04:18 AM
Sometime in the beginning of 2007 I changed the title of my Active Rain blog to "New Day in Real Estate". The reason I did so is because the ripples of change were already being seen in the lending industry. I used the parallel last year in a blog of a giant wave of change beginning with an article titled, "Short Sales: The Coming Tsunami". What we could see on the mortgage banker's table and had been discussing since late 2005 was how all of the ridiculously loose guidelined non-conforming mortgages would eventually impact the housing industry. Most of what has … (2 comments)
no seasoning: No Seasoning Cash Out Refinancing On Investment Properties - What Does It Mean?
- 07/29/06 06:06 PM
SOME CONTENT OF THIS ARTICLE IS OUTDATED - LENDING GUIDELINES HAVE CHANGED 100% NO-SEASONED CASH OUT REFINANCING ON INVESTMENTS IS NOT CURRENTLY AVAILABLE (2007) PLEASE DO NOT CALL ABOUT THIS PROGRAM! THIS ARTICLE WAS WRITTEN IN LATE 2006 - THIS IS LONG GONE! There are several types of "seasoning" in real estate finance. There is "seasoning" of funds (the buyer's funds), there is seller "seasoning on title" of the property being sold and there is "title seasoning" on a property being refinanced. Seasoning simply means "the period of time which a property or asset has been under the direct control of … (4 comments)
We've waited for this one to come back ... now it's here. If you have investor clients or you are an investor who has paid cash for a property within the last six months this may be good news for you. Of course, as will all things, there are caveats and qualifications. Just a few of which are:
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