need some advice re FHA and transferring my mortgage
I've already been told that the mortgage is "non-assumable" so I'm looking for something else I can do or a loophole. Can I refinance the loan and get a family members on there who can just take over my payments? I don't want to sell yet by jasperone27893322 from Tulsa, Oklahoma. Jan 19th 2015
William J Acres (William_Acres)
#74 ranked lender in Arizona - 8,728 contributions
All FHA loans ARE ASSUMABLE.. but the person assuming the home must qualify.. If your current loan is not an FHA loan, then the only way to get removed from the mortgage is to sell the home.. All programs allow you to add someone to the title of the property, so long as one of the original obbligatos is still on title, it's usually not a problem.. But this is in relation to the title, not the mortgage.. the only way to be removed from the mortgage would be to have someone else assume the loan or to sell the property. 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
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