I’m looking for the rule on lien seasoning (if any) as opposed to ownership seasoning. Borrower has been in residence for 15 years.
The lien seasoning you may be referring to has to do with non-HECM liens or HELOC’s that are less than 12 months old and borrower has taken more than $500 out. The HECM product has differences than the traditional forward FHA. If you have a new HELOC or second on the subject scenario we can provide you with additional clarification.