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HomeForumsInnovative StrategiesHow can I assume the mortgage on my brother’s house?
Adam Bijou's profile image
Adam Bijou's profile image
Adam Bijou
  • Member since Feb 22, 2022
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Adam Bijou's profile image
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Adam Bijou
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Adam Bijou
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Innovative Strategies

How can I assume the mortgage on my brother’s house?

Adam Bijou
Posted May 22 2024, 15:48

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 

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