Posted by River City on June 06, 2005 at 08:05:06:
The first thing is to make sure that the lender allows you to assume the payments. If the lender allows assumption of the payments, the lender will advise you as to the process to follow.
If it is not allowable by the lender, don’t do it as the lender can call the loan due in full.
HOW DO I TAKE OVER PAYMENTS FOR SOME ELSE - Posted by Angel
Posted by Angel on June 04, 2005 at 16:09:10:
I was wondering if any one could tell me how to take over payment for someone else? What kind of paper work would be needed
Formal assumption of note. - Posted by John Merchant
Posted by John Merchant on June 05, 2005 at 17:14:34:
Do you mean how might you become legally liable for somebody else’s note?
Easy. You’d apply with that lender to allow you to assume their note which is a matter between the assuming party and the lender.
More interesting question is why you might want to.
What do you think you might gain by doing so?
Re: Formal assumption of note. - Posted by deano
Posted by deano on June 24, 2005 at 12:22:38:
Angel, get ahold of me, I specialize in take over payment programs.