Posted on: 01st Feb, 2011 10:15 am
are lenders not willing 2 do these
Loan assumptions hasn't been allowed by lenders for a very long time so if you want to assume a loan then you must qualify for it.
A bit contradictory there midget, but it's true that assumptions are a thing of the past...they were never good business to begin with anyway. The only market in which they make (made) sense is if it's strictly family.
Since an assumption does not take the original borrower off the hook, it's foolish for that original homeowner to allow an assumption to take place to begin with. And, of course, it's virtually worthless for a lender to consider even in the best of times.
Since an assumption does not take the original borrower off the hook, it's foolish for that original homeowner to allow an assumption to take place to begin with. And, of course, it's virtually worthless for a lender to consider even in the best of times.
