The borrower did a R/T Refi through VA approximately 3 months ago. He now wants to do a HECM loan. We want to know if he is disqualified because he got more than $500 out of the R/T refi. Can you check with HUD to see if there are any exceptions to the rule on this one?
As long as he didn’t get the cash back on a HELOC, he should be fine.