Posted on: 06th Apr, 2009 09:57 am
I received title to the property after my divorce (my ex-husband signed an interspousal transfer deed). If I want to do a 'simple assumption' of the mortgage with my lender (countrywide), will I have to qualify financially, as though I were doing a refinance?
[System detected duplicate post, converted into image. Thanks.]
Hi Guest,
As far as I know, you will have to qualify for assuming the loan. You will have to first check your mortgage documents to find out whether the loan is assumable or not. If it's not assumable, then you will have to refinance it.
Thanks.
As far as I know, you will have to qualify for assuming the loan. You will have to first check your mortgage documents to find out whether the loan is assumable or not. If it's not assumable, then you will have to refinance it.
Thanks.