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Updated 8 months ago,
How can I assume the mortgage on my brother’s house?
My brother is interested in selling his house to me, however, I’d like to keep the existing 2.9% interest rate on his mortgage. I’m wondering how I can do this without having his loan be called due. I heard this may be a possible by first placing the house in a trust and utilizing the Garn-St Germain act. Wondering if there is any validity to this?Any advice would be great appreciated. Thank you!
Located in: Trenton, NJ