Legal Question in Real Estate Law in Pennsylvania

Taking over a mortgae

My brother is looking to sell his house. He is elling for what he owes. I would like to have this house. Can I simply take over his mortgage? If so how can I go about it?


Asked on 7/10/08, 11:52 am

1 Answer from Attorneys
Miriam Jacobson Retired from practice of law

Re: Taking over a mortgae

No one can just "take over" a mortgage. The mortgage holder has to consent before there is any transfer of the property.

You and your brother may enter into an Agreement of Sale for the property conditioned on your being able to assume the mortgage, and then you will have to apply to the mortgage lender for such an arrangement.

You should be aware that the lender will be looking at your credit and ability to pay before deciding if it will consent or not, just as if you were applying for any home mortgage.

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Answered on 7/10/08, 12:39 pm


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