Are they still doing assumptions?

Profile picture for mercedes43
Would be much better than have it foreclosed.
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February 23 2010 - Avondale
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Profile picture for funds2
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.
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February 23 2010
Profile picture for kittenonkeys
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.
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February 24 2010
Profile picture for DaveDenkhaus
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.
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February 24 2010
 

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Related Questions
Profile picture for Margaret Hickman, GRI/ABR/SRS
QuestionAre they still doing assumptions?
  • Latest answer by Margaret Hickman, GRI/ABR/SRS
  • February 24 2010
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