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Mortgagee dies can reletive or deed holder assume mortgage

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Paulied251 Guest	Posted: Tue Nov 10, 2009 1:02 pm    Post subject: Mortgagee dies can reletive or deed holder assume mortgage Like 0 Dislike 0 My aunt took out the loan for us we all lived together in the house and my name was on the deed. What do I need to do to assume the mortgage? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
savior70 Joined: 25 Mar 2009 Posts: 1895 Location: Florida 261.84 Dollars($)	Posted: Wed Nov 11, 2009 5:41 am    Post subject: Like 0 Dislike 0 Hi, You can assume the existing mortgage debt only if the loan is assumable. If the loan agreement does not have an assumption clause, you will not be able to assume the loan. In that case, you will have to refinance the current mortgage loan in your name. If the property deed is already in your name, all you need to do is qualify for the mortgage and refinance the property in your name.

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