Limitation On Owner Occupieds?

I was wondering if a person can buy a property OO and then decide to sell it right away and buy another OO and resell it within a month, etc... Is there something that demands you cannot sell an OO financed home more than once a year?

Comments(2)

  • dezra6th March, 2004

    No FHA loans to this point, so is seasoning still a problem? I don't see why as long as I live in the home, there shuld be a problem with us living in the home and selling, even if it is only a month.

  • InActive_Account6th March, 2004

    If you are financing FHA you would have a problem with seasoning of loan. Some banks and brokers do not care about seasoning. The bad thing about doing this is taxes,closing cost,and the negative effect on your credit score.

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