how can I get a loan off of me...its a subject to assumption loan...want to purchase another house

has it been assumed? If not, the only way to no longer be obligated is to pay it off or sell the house. If it has been assumed and you can document/prove that person has been making the payments for past year may make it possible to ignore that payment. If it is a VA loan your entitlement may be tied up until they refinance. It's possible you may have additional entitlement available depending on the house price.

Not enough info to properly answer your question.. in general, most government loans are assumable WITH qualifying.. and once the assumption is approved and placed, the loan should show transferred on your credit report.. if you allowed someone to assume your mortgage without going through the proper procedures, then you might be at the mercy of the person you let assume your mortgage... IRS does allow for mortgage insurance deductions, but it's tiered based on your income.. That was for 2013.. for 2014, virtually all mortgage insurance deductions have been eliminated.. It's possible that could change, but as it sits right now, the deduction expired. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Your options are to sell... if there is another person currently on the loan, they can try to refinance just by themselves, of if the loan is assumable, someone else can try to assume the loan. With that said, consult a local mortgage broker for some assistance. We finance people on new homes all the time without selling, or removing their ownership from an existing home. Doesn't always work, but many times it does. www.SaintPaulMortgageBroker.com

If this is an FHA loan and you are selling the property, it is very important that you have the servicer send you a Release from Liability (HUD FORM HUD-922210-1 Approval of Purchaser and Release of Seller). If that does not occur, you are still liable for the other debt. While it is true that you can have the new owner provide you with 12 months cancelled checks, if the new owner defaults, you will still be on the hook. If this is a VA loan, I am certain that there is a similar procedure, but I do not know what it is.

I am a licensed Branch Manager/Loan Originator in the state of Virginia. Call me and we can go over so different scenarios. Jericho Cherry 804-556-0685.