Home arrow Mortgage Forums arrow Forums: Learn from other's experiences arrow

transfert morgage

Author Message
Rose

Guest







Post Posted: Sun Jan 27, 2008 11:01 am    Post subject: transfert morgage
Like 0
Dislike 0

some body was living in Ga in his whole family, somethings bad happen the family got separate to different others state. The man decide instead of loosing the empty home by forclosure because he can not afford it to transfert the morgate to a friend. Can I accept that. What do I have to ask him to do to make the transfert legal.

thanks
Rose

_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile livinginnky
livinginnky
Moderator



Joined: 08 Sep 2007

Posts: 631

29.96 Dollars($)
Post Posted: Sun Jan 27, 2008 11:16 am    Post subject:
Like 0
Dislike 0

Call the lender of his mortgage. If they won't let you assume his mortgage.... you will need to obtain your own financing and purchase it from him.
_________________
Eric Matthews

Mortgage Refinance and Home Loan Guide
Icon Mini Profile jbarto65





Joined: 04 Nov 2007

Posts: 622

-0.15 Dollars($)
Post Posted: Sun Jan 27, 2008 11:31 am    Post subject:
Like 0
Dislike 0

His mortgage company will probably run a credit check on the person who wants to assume his mortgage just like if they were just purchasing the home.

you can see if they will do a transfer but more than likely he will have to start over and do the mortgage on your own as if you were purchasing any other home.

I know this is not what you wanted to hear but call his mortgage company/lender and ask them what your options are.
Icon Mini Profile michelle
michelle
Community Expert
Community Expert

best lender badge

Joined: 08 Oct 2007

Posts: 153

40.40 Dollars($)
Post Posted: Mon Jan 28, 2008 6:29 am    Post subject:
Like 0
Dislike 0

Welcome Rose,

I agree that you should contact the lender and see if they will transfer the mortgage to you. If they will not, you should look into obtaining your own financing on the home. In order to do either, you will need to qualify for the mortgage you are assuming or obtaining.

_________________
Michelle Keck
Mortgage Network Solutions
302-252-0100
www.michellekeck.com
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Highlights
Bookmark this page
Share |

Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Calculators     [View all]
Are you eligible for loan?
How much you can afford?
Calculate monthly payment
Calculate APR


Financial Tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

MortgageFit on Twitter

Followers (265)








Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.085 seconds.