Assumption Greek Orthodox Church

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When assuming a mortgage, the seller will agree to let the potential buyer take over his or her mortgage payments at the same interest rate level that they may have had since the house was first purchased. The buyer is essentially assuming the existing mortgage, which in many cases can work out well for both the home seller and the purchaser.
A mortgage assumption is a contractual agreement wherein a home purchaser assumes the sum total of a seller’s requirements on his mortgage, including the full balance, the repayment of same, the length of the mortgage and the rate of interest. Such an assumption is not at all the same as purchasing a home subject to the mortgage. The approval of the current lender is always necessary when entering into a mortgage assumption. This is due to the fact that you are taking over the liability from the present homeowner. Since the buyer is receiving great benefit from the mortgage assumption, he must understand that the seller should receive some advantage as well. In general, the advantage to the seller will materialize in a greater price for the house. Read the rest of this entry »
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Latest Mortgage News: Court halts operations at Halethorpe mortgage-relief firm

Court halts operations at Halethorpe mortgage-relief firm
The U.S. District Court in Maryland has halted operations at a Halethorpe mortgage-relief firm after the Federal Trade Commission alleged that the company was scamming desperate homeowners out of their money, the agency said Friday.

Tags: Court, Firm, Halethorpe, halts, Latest, MORTGAGE, mortgagerelief, News, operations
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mortgage assumption – Does someone assuming your mortgage release you from all liability?

Does someone assuming your mortgage release you from all liability?
My husband's ex wife is trying to assume the mortgage instead of re-financing like she is supposed to. If she is allowed to do this, will he be released from all liability even if she gets foreclosed on? His VA entitlement is also in the house, and to my understanding unless she re-finances, he Read the rest of this entry »