PHOENIX REAL ESTATE – CAN I TAKE OVER A SELLER’S LOAN?

Traditionally, when you buy a home, you apply for a mortgage through a lender, find a home for sale, and use a combination of your down payment and the loan amount to purchase the home. It is a tried and true method, but what if you want to skip the buying and selling process and simply take over another homeowner’s loan? With certain loans you may be able to do that, but there is a lot to consider before assuming a loan. The Basics “In days long past, some mortgages were fully assumable … [Read more...]