Looking for information about real estate loan assumption?
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here is a definition:\n\nAnother individual or entity can acquire the mortgage either with or without qualifying, depending upon the type of loan. Most assumable loans now require the new buyer to qualify. Assumable loans include FHA, VA and owner-financed notes.\n\nHere is why you have heard good things about assumable loans:\n\nYou can get rich with these, cause you can do what is called a wrap around mortgage. That is you buy a house for one price and one down payment, and sell it for another price 5% higher and another down payment 5% higher and you have money coming in with no risk. \n\nMost new loans require the new buyer to qualify, so the days of getting rich easy are gone.
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Very few loans are made these days that have transferability.  The loan is made in the names of the original borrowers based on their specific qualifications.  Your loan documents will tell you whether or not you loan can be "assumed".  If it is a fixed rate, chances are very low that it can be assumed.\n\nIf a husband and wife owned a house together, got divorced, and the husband got the house in the divorce settlement, even though the house would be in his name, the loan would still be in both their names, and on both their credit reports until such time the property is sold or refinanced in the name of the husband only.\n\nSo, in short, check your existing documents as to whether or not it allows "assumability".  If you don't have a copy of your loan documents, call your lender and ask.
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Hi,\nI would be happy to provide information on the property and other surrounding properties. That way you can get a complete analysis of the area. Email me the address and scenario of what you want done and I will put some thing in writing for you along with a few loan options and how I can save you 2% on writing the offer, just for using my service. Every transaction is different hence to name of the company is Creative Financial Consultants, because their are 100's of ways to handle a real estate transaction.\n\nKemo Smith\nSr. Consultant\nCreative Financial Consultants\n(888) 232-8007
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http://finance.yahoo.com/education/real_estate \n\nthat should help :)
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Most lenders do not allow one to assume a mortgage; some do, however.  If the mortgage is assumable, then they will usually allow it if the buyer meets credit criteria.\n\nMost conforming loans do not allow this because it makes for a loophole where people who do not have good credit can get a loan designed for somebody with better credit. \n\nCall your mortgage company anyhow, the worst they can do is say no.
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Dear Lender,\n\nI would like to request a ________ month/year loan for $X, the purpose of which is to ___________________. For collateral, which will have a value of at least 125% of the loan, I am prepared to grant a security interest in the following property:\n\nThis loan will be repaid from _____________________.  I look forward to discussions with you regarding this request.
142728
Talk to your real estate agent or laywer.
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Check out ING via their website ingdirect.com.  I have an account with them and last week they sent me a notice that their mortgage product will cover the closing cost for loans that are below a certain amount.  Other than that, you can get a bunch of information at bankrate.com as well.
198974
I dont sell loans , but one way is to go thru a mailing list company which is a large data base with name and numbers, examble you can search by how long home owners been in the house what there current rate is, and in certain areas.\nso if the average refi is let say 4 years after ownership\nyou can pull just that\n\nthe company i used is criss cross plus real estate\n800-843-8452
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Depending on which state you are in you can call any title company located in the area of the property, ask for customer service, and get a preliminary property profile report for free!\nI do it all the time and I am in CA.\nGood luck!\nIf you are looking to buy a home and need the financing still please feel free to e-mail me and I will put you in touch with the best company I know of who can do loans across the country!\n\nThomas@Simmonsrealty.net
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I'm not sure what you're asking. Check with a real estate lawyer.
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Should have posted this in the Finance area. LOL\n- I found this. Check this out: http://www.reversemortgage.org/
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*Thinking for half a second* You can look in http://dir.yahoo.com/Business_and_Economy/Shopping_and_Services/Real_Estate/Property_Information/Listings/Rentals/ or http://craigslist.com
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The seller’s debt (mortgage) is reassigned to you and remains in first priority as a lien against the property.  Any further financing (junior financing) is considered a second on the property.  If the current note (mortgage) is at a good rate, assumption can be a good thing.  The bank already knows the property is worth the risk.
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I invite you to check out the All Solutions Network website (at the sources bellow). There, you can access all kinds of information on different kinds of services. Also, what kind of loan are you talking about? Check out the sources I provide to you, and you might find something that may interest you...GOOD LUCK!
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Go to www.hud.gov and file a conplaint. HUD will investigate and will bar the lender from conducting further business.
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There is one that i often visit at http://forum.dtfinancial.com There are a few real estate and mortgage professionals on there that give good and usually pretty quick replys to questions.