January 2024

Loan assumption: have you ever heard of it?

Have you ever heard of loan assumption? You know what it is, when it can be done and what it’s for?The assumption is a financial instrument through which a debtor takes over from another for the payment of the mortgage. With this type of tool you can sell house with an outstanding mortgage.The loan assumption formally starts at the time of the deed, which happens as in any real estate sale at the time...

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