Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Refinancing Questions
We want to refinance our house but our bank won't even talk to us because our house is currently up for sale. Does anyone know if all banks won't allow you to refinance because your house is on the market?
Re: Refinancing Questions
Every bank is different regarding how many days off market the house has to be before refinancing.
I am a processor, and we sell loans to GMAC. I know their requirement is your house has to be off the market for one day before signing your application. It goes by the date the MLS listing is cancelled. Now, I can't say that is the requirement that they have when they are the ones originating the mortgage, but that is the guideline for my company to lock a loan with them.
The other investors that we use (BOA, Chase, WF) slip my mind.
I just saw your post below.
You will not be eligible for a refinance since you are not inhabiting the house and it is on the market. You will have to be back in the property for AT LEAST six months as it being your primary residence.
Yeah I think since you aren't living there and it's been on the market so long, it will make it difficult to refinance. I think for the HARP or HAMP (?) programs you must be occupying it. Also, a coworker ran into the same problem since her house is on the market. They wanted it to be off 6 months before refinancing.
Have you considered renting your home. My mortgage guy is working with us right now on getting the house re-financed in preparation of getting renters into our house since there is no real hope for us to sell it any time soon. After we get that done, they are going to work on getting us a new loan for a new home.