Fannie Mae – Divorce and Cash Out: A couple is divorcing; one is quit claiming “off” the property and the other is quit claiming “onto” the property. Can the one being quit claimed “on” do a cash-out refinance?
Answer: A borrower must own a property for 6 months to do a Fannie Mae cash-out. There are some exceptions, so call me first. Yes, however the person quit claimed “on” to the property would have to wait six months from change of title ‒ UNLESS you can meet and prove the property was acquired […]