| Author |
Previous Topic | Next Topic |
|
nedzie
78 Posts |
 Posted - 07/03/2008 : 10:38:58 AM
|
Does anyone have a link for the FHA guideline that explains how long a home needs to be off the MLS to be able to do a rate/term refi?
I just got a loan suspended because it was just taken off the MLS 1 month ago. I thought FHA only required 1 day off?? |
|
canoe
78 Posts |
Posted - 07/03/2008 : 11:08:40 AM
|
| You thought wrong, and your FHA underwriter gave you the awnser when she supended the loan, always ask the borrower if the home has been listed for sale within the last 12 months, if so the appraisal is going to show the home was listed for sale, most banks I know of would not fund your deal. |
|
|
ss5547
250 Posts |
Posted - 07/03/2008 : 11:26:09 AM
|
| TBW is 30 days off for RT and 90 days for CO |
|
|
nowbroker
1384 Posts |
Posted - 07/03/2008 : 11:51:42 AM
|
This is a lender specific rule. I have never heard of any FHA rule regarding this- they will allow one day off.
Try Suntrust, they used to go by FHA rules (or lack of them) |
|
|
hoangad
2931 Posts |
Posted - 07/03/2008 : 11:59:02 AM
|
JMAC i think 1 day off.
so is citi |
|
|
peter
4612 Posts |
Posted - 07/03/2008 : 12:36:44 PM
|
I just checked with Bankers West, for rate and term
it is 30 days off MLS. For cashout, it is 90 days.
Yes, it is a lender-specific rule.
Peter |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
