Posted on: 22nd Aug, 2007 09:38 am
i understand that a borrower must have 12 month seasoning to refinance a previous home equity loan. does the 12 month seasoning go off the date of recording or the date that the loan documents have been signed? would you let me know where i can find this information?
Twelve months are counted from the time the loan comes into existence. It means that when the loan documents are signed the 12 month period will be counted from that time on.
If you would like to get more information about Texas A6 law, then kindly go through this following page: http://www.mortgagefit.com/texas/a6loan-law.html
If you would like to get more information about Texas A6 law, then kindly go through this following page: http://www.mortgagefit.com/texas/a6loan-law.html
=>Does the 12 month seasoning go off the date of recording or the date that the loan documents have been signed?
Yes it will be counted from the date docs are signed.
Yes it will be counted from the date docs are signed.
Hi Jhong,
To refinance a home equity loan, there must be a gap of 12 months. This seasoning of 12 months is generally counted from the time when the documents related to the loan are signed.
To refinance a home equity loan, there must be a gap of 12 months. This seasoning of 12 months is generally counted from the time when the documents related to the loan are signed.
Wells Fargo says I cannot get help in Federal programs when I cashed out on a home with 100% equity. Why? this decision was to pay medical bills and to survive at the time. What lawyer should I get to help me?
Hi SHEILA,
You should read through the refinancing docs and check out what clauses are mentioned in it. You can even speak to a real estate attorney in this regard.
Thanks
You should read through the refinancing docs and check out what clauses are mentioned in it. You can even speak to a real estate attorney in this regard.
Thanks