Posted on: 27th Jan, 2011 11:52 am
how can i write an assumption letter to add my husband to my loan
The current lender allows you to add someone to the current loan or they do not allow such a thing.
There is no such thing as you writing a letter to add someone to a loan.
Call the lender and ask if it can be done. If it can be done, they will orivide forms and tell you what you need to do.
There is no such thing as you writing a letter to add someone to a loan.
Call the lender and ask if it can be done. If it can be done, they will orivide forms and tell you what you need to do.
Actually she can. He cannot be added to the lagal documents (mortgage), but can by letter of assumptipn, be obligated equally on the promissory note. We have done that.
James R. Wittstein, Atty. (203) 334-4552
James R. Wittstein, Atty. (203) 334-4552
Thank you, Jim.
By "no such thing as writing a letter", I meant to say that one just writing a letter does not cause it to happen (at least, I do not think it does)
It has to be something accepted by the lender (I think).
Certainly correct me if I am incorrect. I imagine one must contact the lender and ask what they want--any letter, a letter in their specific format...and if in fact they accept such a letter, which is why I suggest calling the lender and asking.
If the lender accepts such a thing, it is simple.
If they do not accept, I do not know if they can be forced to accept.
By "no such thing as writing a letter", I meant to say that one just writing a letter does not cause it to happen (at least, I do not think it does)
It has to be something accepted by the lender (I think).
Certainly correct me if I am incorrect. I imagine one must contact the lender and ask what they want--any letter, a letter in their specific format...and if in fact they accept such a letter, which is why I suggest calling the lender and asking.
If the lender accepts such a thing, it is simple.
If they do not accept, I do not know if they can be forced to accept.