Profile picture for mercedes43

Are they still doing assumptions?

Would be much better than have it foreclosed.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 23 2010 - Avondale
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (3)

Best Answer
Any assumption would require the buyer to be qualified to assume the loan. If one is in danger of being foreclosed on and has someone the wants to buy the house, a lender is likely to work with the buyer but only if they were a good risk...credit, income, assets, etc.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 23 2010
Interest rates are so much lower these days that it really doesn't pay a buyer to assume a loan.  If you qualify to buy, you want to go for the lower interest rate.  I've not heard of any local lenders doing assumptions for this reason.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 24 2010
It just depends on your mortgage contract. Get out that huge pile of papers you had to sign and look for the terms of an assumption.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
February 24 2010
 
Related Questions
Are they still doing assumptions?
Profile picture for Margaret  Hickman
Latest answer by Margaret Hickman
February 24 2010 | 3 answers
  • Asked by mercedes43
  • In Rentals
  • February 23 2010
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 500 Block South Kenner Rd, Waggaman, LA Home For Sale
    500 Block South Kenner Rd, Waggaman, LA 70094

     For Sale: $60,000

    • Beds: 0
    • Sqft: 42643
    • Baths: --
    • Lot: --
  2. 208 Mission Ct, Avondale, LA Home For Sale
    208 Mission Ct, Avondale, LA 70094

     For Sale: $15,000

    • Beds: 3
    • Sqft: 1500
    • Baths: 2.0
    • Lot: 5662
  3. 314 Glendella Dr, Westwego, LA Home For Sale
    314 Glendella Dr, Westwego, LA 70094

     For Sale: $119,000

    • Beds: 4
    • Sqft: 1382
    • Baths: 2.0
    • Lot: --