Update of Previous FHA Seasoning Rule

I jumped the gun. It looks like (and we shouldn't be surprised) we may not benefit so much from the waiving of the seasoning rule. It will probably be determined by the end lender whether to allow seasoning to be waived for the buyer.

So it's not a one size fits all. The change is for the benefit of the banks selling REO's but I could believe an arguement could and will be made to use if for pre-foreclosures. So don't take no for an answer. Keep pushing to see what they will do.

Many times if the end buyer is strong - good credit, high credit score, the end lender may just let it pass.

I say "if they say no, they just don't have enough information. If the appraisal comes back at your sale value, it should be easy. Give the lender more information. Get at least 3 no's before you give up!"

Deb McMillan
Short Sale Queen