Profile picture for sotofr

how to assume a foreclosure loan

  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.
November 01 2010 - US
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)

The first thing you must find out is if the loan is assumable.  Some are while others are not.  Most conventional loans are not assumable.  The lender will make sure you qualify to assume the loan.  


All the best!


Ryan Smith
  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.
November 01 2010
FHA are still assumable.
  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.
November 01 2010
Profile picture for Trump Junior
I was told by a mortgage broker that loans are no longer written to be assumable.  That was a thing of the past.  They might be adjustable, but definitely not affordable. LOL

Edit: Oh, now I see you mean negotiate with the bank to take over the loan after foreclosure?  I guess I don't know if they are doing that nowadays either.
  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.
November 01 2010
 
Related Questions
What has been your experience with Hubzu.com?
Profile picture for user7453373
Latest answer by user7453373
1 hour 27 minutes ago | 6 answers
How to make a bid
Profile picture for Kelly Smith
Latest answer by Kelly Smith
11 hours ago | 3 answers
should we make an offer on reo property from penny mac lower than the list offer?
Profile picture for birdmill
Latest answer by birdmill
14 hours ago | 6 answers
I have saved 5 homes on this site, I need to talk to someone regarding buying
Profile picture for Chris & Maria Skrip
Latest answer by Chris & Maria Skrip
19 hours ago | 3 answers
Mortgage Rates
 
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.