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How much do you need to assume a mortagae

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tweety0368 Joined: 13 Nov 2009 Posts: 1 1.00 Dollars($)	Posted: Fri Nov 13, 2009 10:36 am    Post subject: How much do you need to assume a mortagae Like 0 Dislike 0 i know someone who has a home and they are willing to let me assume the mortgage. And they think it would only be what is needed at closing.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12372 Location: bloomfield, ct 57.76 Dollars($)	Posted: Fri Nov 13, 2009 12:10 pm    Post subject: Like 0 Dislike 0 tweety the whole matter of assumption is up to the mortgage lender. what a current owner is open to isn't indicative of what the lender will be seeking. the only way to determine what you need is to have your seller contact the lender to see if it can be done, and then determine what's required. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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