Daniel Dos Santos
Assuming a loan while purchasing a home with FHA loan
My wife and I currently have a multifamily under contract and will be purchasing with an FHA loan. We will also be using the FHA rehab loan and together the loan amount will be approximately $240k. We have been preapp...
Mohammad Foro
Can a c-corp assume all liability without property title?
I am looking to setup a c-corp to collect rent on my multifamily unit. The catch is, I dont want to put the title of the property in my c-corp's name - I want it to remain under my personal name.
Can I use th...
Carlos Flores
Assuming MF Fannie Mae loan. Lender wants certain rights waived
I am a principal in a 100+ unit multifamily deal where we're assuming a Fannie Mae Non-Recourse loan. Two days before closing the lender's attorney wants us to sign docs waiving any benefit of discharge under Chapt...
Johnny Chang
Purchasing home or assuming mortgage from widow w/ grown kids
Hello BP! I'd appreciate your suggestions on moving forward to make this a win/win. Here's the facts:1. Widow in Texas with three grown kids living out of state. She is 5 months behind on her mortgage. House is valued...
Tony H Truong
Looking for help on assuming a sellers mortgage Subject TO
Hello BiggerPockets.I am in a process of doing my first Subject To deal.I understand you need a deed of trust and a promissory note to put a lien on the property, but not to sure if that will help. My concern is that ...
Roddy Walker
STR buyout an for existing partner and assuming the loan.
I own an STR in Salem Oregon that produced $75k this year while being active for 9 months. The home was $550,000 and it was financed by partner. We’ve decided to part ways but I’m unable to assume the loan because I d...
Mark Spritz
Need help in Filling out a Form For Assuming POS
I am buying a property in Cleveland Heights and assuming the POS. But it requires me to fill out the Registration of Dwelling Structure By Out-of-County Owners Form. In the form it has section II for Cuyahoga County A...
Adam Bijou
How can I assume the mortgage on my brother’s house?
My brother is interested in selling his house to me, however, I’d like to keep the existing 2.9% interest rate on his mortgage. I’m wondering how I can do this without having his loan be called due. I heard this may b...
Rick Baggenstoss
Can I not assume lease of non-owner tenant, foreclosure?
I'm in due diligence period for a SFH with carriage house. House is FNMA foreclosure and tenants are not the owners but would like to stay. Rent is $1850/mo -- well below market rent of $2500 - $2700. Primary hous...
Todd Moriarty
What are the basic steps when assuming a commercial loan?
I'm looking at assuming a commercial loan on a multi-family building and just confirming the steps involved. The loan is assumable....so....if the purchase price is $1,000,000 and the current loan balance is $900,000...