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Assuming Conventional Loans

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marga1511 Joined: 13 Nov 2009 Posts: 42 0.02 Dollars($)	Posted: Mon Nov 16, 2009 9:35 am    Post subject: Assuming Conventional Loans Like 0 Dislike 0 [System detected duplicate content, converted into image. Thanks.]
eric1 Community Expert Joined: 04 Jan 2009 Posts: 1511 226.91 Dollars($)	Posted: Mon Nov 16, 2009 10:43 am    Post subject: Like 0 Dislike 0 No, all loans are not assumable. That is incorrect. Also, if she stays on as a co-signer, then you are not assuming the loan. She will still be fully responsible for it. _________________ Eric JFree Rate Quote, Stated Income Loans FHA RATE QUOTE Mortgage Rate Quote
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12376 Location: bloomfield, ct 58.49 Dollars($)	Posted: Mon Nov 16, 2009 9:32 pm    Post subject: Like 0 Dislike 0 what's happening, marga, is that the lender is denying your request to assume this loan. you may well be better off in obtaining a new loan to pay off your mom's loan. _________________ George M. Akerley Mortgage Underwriter/Consultant Word of Excellence- Writing/Editing/Proofreading 860-221-5044

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