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what is it to assume a morgage
Sent to Legal Experts June 16 09:20 PM

if you need money how do you assume a morgage and what dose this mean

 

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bridgeport , Connecticut

Customer (name blocked for privacy)
Status:  Closed   Value: $9
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June 16 9:50 PM (30 minutes and 20 seconds later)
         
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Assuming a mortgage generally means that you take over the loan payments or "assume" the responsibility of the original borrower. Assuming a loan is generally NOT a method to raise money, but a way to pay for part of the purchase price for a property by assuming another person's debt.

Best wishes and good luck.



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