Posted by CarolFL on April 14, 2000 at 09:00:51:
Check out the many posts and articles on avoiding the due on sale clause. If it cannot be assumed, per se, then avoid the assumption. Or, flip it to the tenant and turn them into buyers and hold a second.
Guess it depends on what you want to do with the property and the seller wants to do with their loan.
Good luck,
Carol
advice on fha loan - Posted by shawn j hobson
Posted by shawn j hobson on April 13, 2000 at 20:07:45:
I am attemting to purchase a townhome with assumable FHA financing. The mortgage company wants perfect credit and occupancy from me the buyer. The seller, simply wants someone to assume the loan. I want the excellent terms, a significant equity position in the property and I already have a qualified tenant. Can anyone suggest some alternative financing options. Please send ASAP.
Shawn