Posted on: 28th Sep, 2010 07:52 pm
My current mortgage is not assumable. Can I sell the property on a wrap around mortgage or contract for deed to my daughter without calling the loan due?
Hi pattie,
If it is mentioned on your mortgage deed that the loan will be called due if you sell off the property, the lender will call the loan due though you go for a wrap around mortgage.
Take care.
If it is mentioned on your mortgage deed that the loan will be called due if you sell off the property, the lender will call the loan due though you go for a wrap around mortgage.
Take care.