Assuming 1st mortgage after foreclosure by junior lien

[Austin Nguyen]

Hello all,

Just acquired a property via foreclosure by the junior/2nd mortgage. The 1st/senior mortgage is in covid forbearance but not in default. It has a 2.5% interest rate (better than what I could get as NOO) and i would prefer keeping the terms of the 1st mortgage. What are my options for assuming the mortgage? Keep paying it under the previous owners name (likely deceased) and keep cash reserve in case of the Due on Sale clause? Do mortgagers allow assuming a loan? Paying it off and refi under my name is doable, but higher interest plus loan origination fees...

Thanks