Foreclosure...yes i know - Posted by Newbie2005

Posted by john on June 15, 2005 at 13:35:37:

Title seasoning is not required by seller of REO (bank) it is determined by your lender with a prepayment penalty. It varies by lender shop with a mortgage broker for a financing terms you can live with.
It is my experience banks will not allow you to assign the purchase contract.

Foreclosure…yes i know - Posted by Newbie2005

Posted by Newbie2005 on June 14, 2005 at 20:47:12:

can someone please tell me if REO’s have seasoning? Do banks require you to hold the property for x amount of days/months/years before you can sell it.

also do banks allow for a property to be assigned in their contract lingo?

thank you.