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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Dat's my loan ! - Don't be messin missy!! Posted by BUBBA on February 24, 2004 at 11:20 PM In Reply to: Can a buyer assume a loan in which it's not under the seller's name but the previous owner that went in foreclosure. posted by Mirela28 on February 24, 2004 at 10:50 PM : Hi : I've a potential buyer that's interested in assuming the 1st loan which is around 97k and giving me 60k cash. : The problem is that we reinstated the 1st. so it'll not go in foreclosure, so it's still under the previous owner's name. : Can this potential buyer still assume the loan even if it's not under our name. I'm tempted to call the bank and ask: although, I don't think they'll be able to give me any answers since it's not my loan. : What advice can you give me? Should I be careful of such transaction? I've heard that's a quick sell in maybe 15 days, but what are the dissadvantages if any? : Thank you, : Mirela Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi : : I've a potential buyer that's interested in assuming the 1st loan which is around 97k and giving me 60k cash. : : The problem is that we reinstated the 1st. so it'll not go in foreclosure, so it's still under the previous owner's name. : : Can this potential buyer still assume the loan even if it's not under our name. I'm tempted to call the bank and ask: although, I don't think they'll be able to give me any answers since it's not my loan. : : What advice can you give me? Should I be careful of such transaction? I've heard that's a quick sell in maybe 15 days, but what are the dissadvantages if any? : : Thank you, : : Mirela Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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