Selling A Rehab
I have a couple of houses I am wanting to quickly rehab and resale. A lender told me any morgage co. will not give a buyer a morgage on a house that hasn't seasoned for at lease 90 days. I know it takes time to sell but If i find a buyer quickly it would be nice to get a morgage lender for them. Does anyone know if this 90 day thing is for all morgage co.s?
Looks like I jumped the gun. I just got off the phone with one the great lenders on this site that can make it happen. next time I'll call before I write.
I just sold a house and had a really hard time with the buyers mortgage comapany. Apparently, the mortgage companies are making it hard to flip properties.
They want to know why its worth so much more after having it for 9 months.
It seems if its been 12 months, they don't give you a problem. Ours was 9 and we had to show all kinds of receipts.