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tigerfamous · Joined: 11 Jul 2009 Posts: 57 6.76 Dollars($)

Recently I heard that FHA has actually removed the seasoning requirement. That means, homeowner should be able to do refinancing anytime without restriction. But when I go shopping mortgage, the mortgage brokers or lenders always tell me they have seasoning requirement. Why is there difference between the FHA regulation and lenders' practice?

Is the seasoning requirement actually removed?

Thanks.

jameshogg · Posted: Wed Aug 12, 2009 7:27 pm Post subject:

Hi tigerfamous,

As far as I know, the seasoning requirement is still valid for FHA loans. This lifting of the seasoning requirement was just for a year - June 2008 to June 2009. Moreover, the seasoning requirement was lifted on properties acquired through foreclosures. Also, FHA still requires the houses to be in "safe, secure and sound" condition.

Thanks

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seasoning requirement lifted?