Posted on: 04th Aug, 2010 05:58 pm
If you have purchased your home using WHEDA is there a minimum time requirement before you can sell your home i.e. 3 years, 5 years??
Also are there any fees or penalties if you sell your home before that time period is up?
Also are there any fees or penalties if you sell your home before that time period is up?
Hi lynng!
Welcome to forums!
I have never heard of any such specification regarding WHEDA loans. However, you can check out your loans docs to find out whether or not such a specification is mentioned on it. If such a specification is mentioned and you don't follow it, then you would be liable for fees and penalties.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
I have never heard of any such specification regarding WHEDA loans. However, you can check out your loans docs to find out whether or not such a specification is mentioned on it. If such a specification is mentioned and you don't follow it, then you would be liable for fees and penalties.
Feel free to ask if you've further queries.
Sussane
My cousin sold his home a couple of months ago. He financed it through the WHEDA program when he bought it two years ago. If you sell your house within nine years of buying it, you may have to pay a recapture tax.
Anyway, When I bought my home about 8 months ago. I was told wheda loans where no longer available.
Anyway, When I bought my home about 8 months ago. I was told wheda loans where no longer available.