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We provide a professional Mortgage Assumption which can be signed between the Lender and Borrower. What is a general release: It's a valuable template if you are in the situation when you want to transfer the suits, debts, covenants, promises, contracts, controversies, agreements, claims and demands, etc to the Releasee, Warnings for Assumption of Mortgage:
- Please note that the original mortgagee can be liable for repaying the loan, in the situation that the new owner fails to repay the loan.
- Assuming a mortgage can be a risky , and we recommend to consult a lawyer or legal professional for more legal advice.
- Make sure to keep the original lender in the loop with a wrap-around mortgage. This will be necessary to be sure that you are able to get the title.
This Mortgage Assumption (5 pages) contains the necessary information to set up the Assumption of Mortgate process.
Our Templates are screened and often updated by Legal professionals.
Download this Template if you are in this situation and save yourself the time, costs or effort now and especially to prevent you from problems in the future!
Nothing on this site shall be considered legal advice and no attorney-client relationship is established.
Those who say it can not be done, should not interrupt those doing it. | Chinese Proverb