2006-12-05 12:52:51 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I believe it means you need to have the funds in the bank for at least 60 days.
2006-12-05 13:00:33 · answer #1 · answered by WitchTwo 6 · 0⤊ 0⤋
Banks want to see that you have reserves or money in the bank. Many times they will want to see two to six months of payments. Depending on the lender, they may want it to be sourced and seasoned. Sourced is where the money came from. Seasoned means that the money has been in the account for 60 days. I hope this helps.
2006-12-07 14:22:37 · answer #2 · answered by Mama of Four 4 · 0⤊ 0⤋
It means you have had the money in the bank for at least 60 days. (I assume they are wanting money seasoned, not the equity). The lender looks at your average balance over the past 2 months to make sure you haven't "borrowed" a large chunk of money suddenly that will need to be repaid. It also shows the ability to save money and keep it there.
2006-12-05 21:02:28 · answer #3 · answered by bathagent 2 · 0⤊ 0⤋
It means that something on your credit report has been there for at least 60 days. Has nothing to do with your funds in the bank. Some people here guess at answers.
2006-12-06 09:20:35 · answer #4 · answered by Anonymous · 0⤊ 1⤋