Assumption of A Mortgage

posted Nov 4, 2010, 4:09 PM by Victor Kaminski   [ updated Nov 4, 2010, 4:09 PM ]
Assumption of A Mortgage    
Accepting personal liability for the repayment of an existing mortgage loan on property being purchased. The seller may also remain liable unless specifically released. If the mortgage contains a due-on-sale clause it is not assumable without the lenders consent.
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