Assuming a Home Mortgage

[Bailey Mason]

Hello, I'm trying to buy a property to flip, and I've run into a roadblock.  The owner wants to sell to me, and I'd like to assume her mortgage.  Here's the scenario:  she has 160k remaining balance, and she also has a 30k "Hardest Hit Fund" loan on the house.  She is behind 3 months on her mortgage, so the mortgage company will not send an "assumption package" to even begin the process of signing it over to us.  She does not have the money to get it current.  Any advice? 

[Aaron K.]

Make it current yourself or walk away.

[Patrice Penda]

What is the house worth?

[Patrice Penda]

What is the house worth and what is the purchase offer she has or would agree to?

It matters to figure out what your options are.

[Jacob Zanger]

yea you need to pay all the arrears to even do a 'subject to' deal. What is the ARV? Do you have the money to bring current carry the mortgage and pay the contractors?