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Updated over 8 years ago,
Assumption after loan modification?
Fellow investors,
Has anyone assumed a loan after a modification has been completed? The loan mod was early this year due to the sellers falling behind on their payments. After the loan mod HUD tacked a 33k lien onto the mortgage. I'm wondering if I have to pay that off before assuming? I have closed deals where I had to pay off any secondary liens but this HUD lien is attached to the mortgage.
Any advice from someone who has successfully assumed loans like this would be great!
Thanks in advance.
Cam
- Cameron Tope
- [email protected]
- 832-802-0848
Emerson Property Management
157 Reviews
4.5 stars