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how do loan assumptions really go

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tomsgirl070400 Joined: 15 Nov 2010 Posts: 1 1.00 Dollars($)	Posted: Mon Nov 15, 2010 8:53 pm    Post subject: how do loan assumptions really go Like 0 Dislike 0 i am in the process of taking over a loan but the bank is telling me i have to pay them whatever they want after i already went to closing then they will put house in my name is that how it really goes
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Nov 15, 2010 10:18 pm    Post subject: Like 0 Dislike 0 Hi tomsgirl! Welcome to forums! I did not understand what the bank wanted to mean by "pay them whatever they want". Once you assume the loan, the lender will give you the terms and conditions to repay the loan. You will have to pay off the dues as per that terms and conditions. You should ask the lender o give you in writing the terms and conditions of the loan. Feel free to ask if you've further queries. Sussane

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