It would be better to open a new card with 0% interest on balance transfers, move your debt to that card, then pay it off like a mad man before interest is charged.Your scenario indicates you aren't financially disciplined.

So, things change a bit.If it is his personal home, there are more restrictions.For an investment property, if you take over his financing, read through the deed of trust (mortgage) and see how they handle transfer of ownership.

.• That the grantor/mortgagor was insolvent at the time of the execution of the deed.An estoppel affidavit (executed and acknowledged by the grantor/mortgagor, attesting to the fairness of the transaction, the consideration exchanged, the value of the property, and other factors showing an intention to make a genuine transfer) or a recital (inserted directly in the deed) are supporting documents used to forestall challenges to these transactions.State law and local title standards must be consulted in regard to the consideration and treatment of deeds in lieu of foreclosure.What a GREAT post!   

Provide clear instructions on where and how to pay to avoid confusion.Recover Security Deposits: The current property manager is legally obligated to transfer tenant security deposits to you or the new management company.

I’ve talked to a number of investors and they can’t get 10% down on owner finance transactions were the deed transfers at closing.I operate in 4 or 5 markets.

Is there a way to transfer the loan agreement to my name or try some owner financing/selling strategy?

Their permit will not be transferable when they sell though, according to the draft plan.

You have no control over the servicing transfers.

All mortgages contain a “due on sale clause” which states that the lender may, at its option accelerate (call note due) if a transfer of the property securing the note takes place.  

Transfer of the Property or a Beneficial Interest in Borrower.