Legal Question in Real Estate Law in Florida

Loan assumption

If we find someone that is prepared to assume our home loan at its full value and any liens or incumbents attached to the property, does this remove us from any olbigation we have with the mortgage company. So that in the event of any future deliquencies the mortgage company seeks recourse for the per that has assumed the loan rather than us


Asked on 2/20/09, 2:42 pm

2 Answers from Attorneys
Alexander M. Rosenfeld Rosenfeld & Stein, P.A.

Re: Loan assumption

No, unless the lending institution approves.

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Answered on 2/21/09, 12:50 pm
Brent Rose The Orsini & Rose Law Firm

Re: Loan assumption

No, the mortgage company would have to agree to this arrangement.

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Answered on 2/20/09, 4:36 pm


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