Hi Folks, I was thinking about assuming a mortgage of a deceased owner the family wants nothing more to due with the home and is now in pre-foreclosure i plan to flip it for a profit but i wanted to know what step i need to take , Im asking what did or how did you go about assuming a mortgage What should i do ?

Said another way the interest portion is pre tax dollars the principle will be post tax dollars so paying down the loan will not benefit you from a tax perspective.

I was pre approved for an FHA loan and my loan officer was awesome.

@John Thedford,I'm convinced they don't ever intend to pay off the national debt.Gold is an interesting play, not as interesting as it was pre-bubble but it is going to be interesting to see how the gold bubble unwinds.But, to the original question.

I strongly recommend that you actually physically see the property before buying either pre-sale or at the sale.4.

Usually at a pre-specified price, though sometimes this price is determined in the future.These are two separate agreements.Having a co-signer on the option doesn't make sense.

I did a bunch of them pre Dodd Frank on my OREO.. in the C class area they are totally hit and miss with many more misses than hits.

@Ned Carey   State of Washington is the same way you must bring all tax's current to record a deed.It really fubars some pre foreclosure folks thinking they are going to get a poor home owner to sign over their home for 500 bucks..

Ohio does not offer pre licensing classes online.

Only try and find a buyer pre-conditioned by not having any preconditioning to be locked into a magic yield number which you have nicely already defined for them.