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how to assume a foreclosure loan

  • November 01 2010 - US
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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
  • November 01 2010
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FHA are still assumable.
  • November 01 2010
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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.
  • November 01 2010
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