Posted on: 05th Jan, 2011 11:08 am
She owns home. Wants me to assume her mortgae.
You can't just take over the mortgage. If the loan is an FHA it might be assumable for a qualified owner occupant.
If you just start making the payments you run the risk of the lender calling the loan due and payable (almost all mortgages have an acceleration clause in them)
Good Luck!
If you just start making the payments you run the risk of the lender calling the loan due and payable (almost all mortgages have an acceleration clause in them)
Good Luck!