Posted on: 06th Aug, 2009 10:39 am
My daughter and her husband are living and paying rent in a home we own. They have expressed interest in purchasing this home from us. How do they go about this in the least expensive way on there part. Is it possible that we can merely sign everything over to them. Along with the rent they are also responsible for the payment of all utilities.
the title of your post is "assuming a mortgage" but the body of the text makes no further reference to an assumption. it's confusing to me.
that being said, keep this in mind - if you were to try to have them assume your mortgage, that doesn't eliminate your responsibility to make payments under the note. of course, if they make all payments, it's not relevant, but unless the lender specifically releases you from responsibility, it never goes away.
that being said, keep this in mind - if you were to try to have them assume your mortgage, that doesn't eliminate your responsibility to make payments under the note. of course, if they make all payments, it's not relevant, but unless the lender specifically releases you from responsibility, it never goes away.
cuddles
Do you want to sell the home to them or do you simply want them to make the payments?
Do you want to sell the home to them or do you simply want them to make the payments?
