Delayed Financing

Almost a year ago, if you bought an investment property with cash, your cash was trapped – mortgage financingstuck in the purchase of the home for six months before any lender would provide financing for a mortgage.  This was largely driven by a Fannie Mae rule, called the Delayed Financing Rule, establishing a mandatory 6-month waiting period to prevent mortgage fraud and ease the pain of the housing crisis.  However, the agency has changed its tune and will now allow for real estate investors to pay cash for a home, then extract that cash immediately after acquisition via a mortgage loan.

Read Wealthy House Hunters Are Using Delayed Financing To Beat The Competition.

Today, there is no cash-out waiting period.  Furthermore ReCasa Financial Group offers both the traditional Delayed Financing as well as an enhancement to allow investors who need to make repairs to the property to borrower monies necessary to complete.  For more information please contact 614-221-6770 or visit our website www.recasafinancial.com.