Title Seasoning Question
is there title seasoning issues when doing a refinance. say you borrow from a private lender to purchase and do rehab. once the house is done say...3 mos. later can you go ahead an refinance to pay off the lender or will the bank have a problem with the 3 mos. title?
A bank would have problems with seasoning, I have used lenders that can do non-seasoned refinances, in fact, this is becoming a common strategy with investors I know. They get hard money to get the house for a good price and close quick, then immediately start the refi at 95-100% of market value the day they close. They get in for no money and if they bought right they get some cashola back.
[addsig]
I just did a deal where I got title to the property in January and just refinanced it. Had no trouble at all with length of time. I literally took title to it one week and next week started my refi process.