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Assuming a mortgage?

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Charles Gray

Junior Member
What is the name of your state (only U.S. law)? California.

My mother has a reserving life estate with me as the remainder man. I was planning to assume the mortgage, but had some financial difficulties and so was waiting to pay the fee Washington Mutual requires. The representative told me to not worry about it, as the heir can assume the mortgage upon the death of the parent.
However, now I'm a bit worried-- can the refuse to let me assume the mortgage, especially if Wamu goes belly up and it ends up with someone else?
The mortgage is in good standing and doesn't mature until 2033.
 


tecate

Member
There is a difference between assuming the note and eventually taking the property subject to it. Why do you feel you need to assume it?
 

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