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Dick F
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 Posted: Sun Aug 16, 2009 2:18 pm Post subject: Simple Assumption Clause |
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I am trying to help my neice obtain a mortgage modification Her Father passed away about a year ago and the mortgage is now in the name of his estate.
A HUD counselor that I took my neice to advised she must obtain a simple assumption adding her name to the mortgage. She is disabled and lives in the residence, She and her Father previously shared all expenses.
The counselor advised she will need a copy of the recorded deed, processing fee of $100, revised HO insurance to her name, copy of the will naming her as beneficiary, death certificate and copy of her SS card.
Is there an application available anywhere on line that I could complete in advance of taking her to the county clerks office
thanks for any help
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 jenkin7
Joined: 04 Jun 2007
Posts: 3430
Location: Hawaii
514.35 Dollars($)
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| Posted: Sun Aug 16, 2009 11:38 pm Post subject: |
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Hi Dick,
There's no such application form that you can get online to assume a mortgage. You need to contact the mortgage holder. They should be able to assist you with this.
The HUD counselor said the right thing. She needs to get the mortgage in her name on order to qualify for a loan modification. The modification will help her afford the mortgage payments and stay in the house. You need to first talk with the mortgage company regarding the simple assumption. Given the situation after her father's death, I believe the mortgage holder will be ready to co-operate with her and let her be added to the mortgage. |
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Dick F
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| Posted: Mon Aug 17, 2009 2:43 pm Post subject: simple assumption |
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| Thanks for the advice. I will take her over to Bank of America and see if they will add her on without difficulty. |
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