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Is there an exception to the seasoning period in CT if the owner has received the property as a bequest. I just( less than 6 months) received real estate from my mother's estate and would like to refinance it- there is no mortgage currently on the property.

savior70 · Posted: Tue Jun 02, 2009 4:01 am Post subject:

Hi

Most lenders would require a seasoning period of 1 year before they allow a new appraised value for the refinance. But some would also allow a seasoning period of 6 months. I'm not aware of any exception to this rule as such. But much depends on your lender. If you have a good credit and you satisfy other elligibility criteria, the lender can relax the seasoning requirements. You can discuss this with different lenders and check out if they can help you refinance in this situation.

gmakerley · Posted: Tue Jun 02, 2009 8:42 am Post subject:

libby, you ought to be able to obtain a refinance at this time. lately, we've been told that we have to season our purchase transactions for at least 4 months before we can allow a refinance, and you've already exceeded that timeframe. furthermore, it's not a situation in which you've received a mortgage that must be seasoned.

and even if 6 months is a hallmark, as savior noted, by the time you end up having a closing, you'll likely have reached that point.

go for it.

Guest

are biweekly payments cheaper than monthly payments?

jameshogg · Posted: Mon Jun 28, 2010 12:31 am Post subject:

Hi Grover,

If you go for biweekly payments, you'll be able to pay half of the monthly mortgage payment every 2 weeks. Thus, you won't have to pay the dues at one go. However, some people are of the opinion that rather than going for bi-weekly payments, it would be better if you could add some extra amount to your monthly payments. This will help you in paying your mortgage dues comparatively earlier than bi-weekly payments.

Thanks

tfaulhaber1 · Posted: Mon Jun 28, 2010 8:12 am Post subject:

How long has it been? I agree with George....Go for it! As long as your credit and financials are up to par, you'll find a lender/investor that will be able to provide you a mortgage.

Guest

i refinance my property 5 times already within 6 years period and now i default with last company and im being sued can i refinance property again i live in florida

jameshogg · Posted: Tue Feb 08, 2011 10:12 pm Post subject:

Hi sueann,

If your mortgage is in default, you won't be able to refinance the loan on your property.

Thanks

gmakerley · Posted: Wed Feb 09, 2011 8:07 pm Post subject:

Sueann, if you can find a lender willing to refinance your existing loan, then there's no reason why you wouldn't be able to do it.

Pray tell, what was the benefit to refinancing five times in the last 6 years? Did you not pay exorbitant fees when you add them all up? No wonder you'd have a struggle.

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