Assuming a mortgage

[Reuben Castellano]

Hello everyone. Maybe someone expert can shed some light on my issues. I am thinking of assuming a mortgage from someone who wants out of the 2unit rental. First, can a VA mortgage be assumed? What are the advantages and disadvantages of this deal to the current owner? Advantages and disadvantages to me as a buyer? Do I have to register as an LC since I am from out of State? Do I change the title even if I just assumed it or wait until the mortgage matures then change it to my name? Do I inform the City so that the tax will be on my name? Does the bank really care as long as I pay the monthly mortgage on time? Would there be a good enough reason for the seller to reject my offer since they want out? All dues are up to date. They just want out. Any info will be very much appreciated. Thank you in advance