AssumptionAn assumable mortgage will let a borrower transfer the mortgage to someone else even if they haven't fully paid it off.
Assumable mortgagesIf you have an adjustable-rate mortgage or a government-backed mortgage (including FHA, VA, and USDA mortgages), you might have an assumable mortgage.
Finally, if you want to transfer a property into a trust, a mortgage transfer may be able to help, too.
Mortgage transfer processIf you think a mortgage transfer is the right move for your needs, follow this step-by-step process.
If the lender doesn't approve a mortgage transfer, you will need to explore other options, such as refinancing your mortgage or selling your house.
Persons:
You'll, Molly Grace, Molly, Read, Aly J, Yale Aly J, Aly, She’s
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