No seasoning on NOO
I need help with a customer who screwed up a perfectly easy purchase transaction. 790 score in Louisiana. Had customer all set up to do a conforming NOO purchase (all he was suppossed to do is locate the property) when he decided to go ahead a purchase the property with a line of credit and then come to me for a refinance to take out his loc and cover some repairs! Unfortunately by doing so he created a seasoning problem (among others!). Does anyone know of an investor with no seasoning on a NOO refi (he has owned the property now all of 3 weeks)!