Posted on: 08th Dec, 2008 03:45 pm
Can a mortage be transferred from one person to another without an actual sale taking place, closing costs, etc (If transferee credit is approved by lender)
hi shadowraven!
welcome to forums!
as far as i know, a mortgage can be transferred by the process of novation but the lenders do not easily agree to this. the lenders prefer refinancing the loan. you can speak to your lender and check if he allows the process of novation.
feel free to ask if you have further queries.
sussane
welcome to forums!
as far as i know, a mortgage can be transferred by the process of novation but the lenders do not easily agree to this. the lenders prefer refinancing the loan. you can speak to your lender and check if he allows the process of novation.
feel free to ask if you have further queries.
sussane