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mhughes
14 Posts |
 Posted - 05/13/2008 : 1:41:12 PM
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| 2nd Lien HELOC not used as purchase monies--hasn't been drawn against for 18 months but has an outstanding balance---C/O or R/T??? Doesn't seasoning override the fact it was obtained after purchase? |
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kalee3415
191 Posts |
Posted - 05/13/2008 : 1:45:35 PM
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I know FHA you would be good r/t since it is a HELOC with more the 12 months since last draw.
quote:
Originally posted by mhughes
2nd Lien HELOC not used as purchase monies--hasn't been drawn against for 18 months but has an outstanding balance---C/O or R/T??? Doesn't seasoning override the fact it was obtained after purchase?
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EquitySmart
1117 Posts |
Posted - 05/13/2008 : 10:08:36 PM
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| It depends on your loan program ... conventional = cashout ... FHA = rate/term. |
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