BankingQuestions.com - Can Beneficiary Assume Mortgage?

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Can Beneficiary Assume Mortgage?

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Beneficiary of home: can he assume the mortgage of his mother who owned it and was the financed party?

That will require the lender's approval. They get to decide who their borrowers are. A refinance may be necessary, depending on the loan terms. Can it be automatic, no.

Published on BankingQuestions.com 6/02/10

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