Trying to take over my friends mortgage

[James Myers]

How can I take over my friends mortgage without going through the purchasing process and being required to have a down payment. I've heard he could quitclaim it which would put my name on the deed but he would still be liable for the mortgage which I would agree to pay. Is this the gist or is there more detail I am missing? My current thought is what about insurance coverage since he would be paying it through his escrow?