six month seasoning: Great New Cash Out Refinance Option! - 07/13/11 07:43 AM
Great New Cash Out Refinance Option!
 
In the past, Fannie Mae required someone to have owned a property for a minimum of six months before they were allowed to pull any available cash equity out of their property.  Well that just changed; for the better!
Fannie Mae has made the following change:
Borrowers who used cash to purchase a property are now eligible for a cash-out refinance if all of the following requirements are met.
*The transaction must have been an arms-length transaction.
*The borrower must have paid cash for the property at the time of purchase and this must … (6 comments)

 
Karen Burket, Valley Mortgage Grou, Conventional, FHA, VA, mortgages (Bank of Oregon a division of Willamette Valley Bank )

Karen Burket

Valley Mortgage Grou, Conventional, FHA, VA, mortgages

Medford, OR

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Bank of Oregon a division of Willamette Valley Bank

Address: Medford, Central Point, Eagle Point, White City, Rogue River, Grants Pass, Klamath Falls, Jacksonville,, Medford, OR, 97504

Office: (541) 842-5605

Mobile: (541) 890-3262

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You can find great local Medford, OR real estate information on Localism.com Karen Burket-Bank of Oregon Home Loans Conventional, FHA, VA, mortgages is a proud member of the ActiveRain Real Estate Network, a free online community to help real estate professionals grow their business.
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