What is the difference between wholesaling subject to and a mortgage assignment?

[Matthew J. T.]

I have this situation where I may be doing either, because that is what my buyer wants and I want to make sure I do it legally and right. I've been learning about subject to deals, and also mortgage assignments but how do they differ? What's your opinion on either of these two methods anyone familiar?

[Jon Holdman]

When you assume a mortgage, you work with the lender to take over responsibility for the mortgage. Once upon a time, most residential mortgages could be assumed. Some commercial loans can still be assumed. Very few residential mortgages can be assumed now, and your odds of finding one that can are just about zero.

Subject to just means someone else is taking over the payments. The responsibility for the mortgage remains with the original borrower. It stays on their credit and if the subject to buyer stops paying, the original borrower (your seller) takes the hit on their credit record. If your seller is concerned with this, they're not really a candidate for a subject to deal.

"Mortgage assignment" is a buzzword to make subject to sound like its something different. They're the same thing. There was a long thread on this topic.