If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Our OPINION for the Metro Detroit market (always verify each area for yourself!)

"For purposes of enforcing the due-on-sale (or due-on-transfer) provision, if any, in the security instrument, theservicer must consider all of the following situations to be a transfer of ownership:- the purchase of a property “subject to” the mortgage loan,- the assumption of the mortgage loan debt by the property purchaser,- any exchange of possession of property under a land sales contract or any other land trust device, and- in cases in which an inter vivos revocable trust is the borrower, any transfer of a beneficial interest in thetrust."

I re- read through all my closing documents where she signed off on the “assumption of existing mortgage agreement” which spells out that the loan stays  in her name and the affects of it.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

YES, assumption not sub toCredit and DTI is fineissue will be I own a primary residence also though that is 80 miles away from this house and this new house is 5-10 minutes away from my work, so i am  not sure if i can qualify b/c fo 100 mile rule 

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

I was doing some research but wasn't coming back with anything form a legal stand point. But are their laws that restrict when one is allowed to do a subject to deal? Ie. does the seller need to be in, or close to, pr...

This rule. like most relies on arbitrary assumptions that are just a waste of time. 

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Here’s our OPINION for the Metro Detroit market (always verify each area for yourself!)

Therefore, sellers increasingly offer debt assumptions to preserve disposition targets and supply greater financing certainty to their buyers.As property values decline, rising yield requirements are diffusing across assets of varying quality and vintages.