- The sale of a home where the loan payment(s) are assigned to a buyer in exchange for the deed (ownership).
- Although virtually no loans are “assumable”, anyone can make payments on anyone else’s mortgage, and as long as those payments are made, the lender will consider the loan to be performing.
- In an Assignment of Mortgage Payment Sale, the buyer agrees to make payments on the seller’s mortgage(s) going forward in exchange for ownership of the property.
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