![]() ![]() ![]() This is common with the sale of foreclosures or short sales on the market. When a lender or mortgage program requires at least 12 months of seasoning, it prevents investors from purchasing a home for a low price and then selling it for an inflated price shortly down the road for a profit. This helps keep profits to a minimum that are not warranted. Each mortgage program has their own requirements and each lender can have addition overlays for their own protection. The typical minimum time requirement to hold a mortgage before refinancing is one year, but there are many exceptions to this rule. The seasoning requirements to refinance a mortgage pertain to how long you have held your mortgage. ![]()
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