assumable mortgage - Posted by Thomas

Posted by Thomas on April 07, 1999 at 12:41:25:

I was able to find number of investment properties in my area that have assumable mortgages on them.
I studies the CS course, however, it does not explain how the process of “assuming” works. Do I need to be qualified by the bank in order to assume the mortgage, or is the procedure less formal.

I have pretty good income and my credit is not bad, however, due to refinincing of my own home etc… number of inquiries were made at the credit agencies which although did not result in additional libilities, reduced my credit score. Do you have any advice how to remedy this problem other than sitting “credit wise” quiet for a while?

I will appreciate any info.