| This webinar discusses Mortgage Assumption issues, which are nothing new to foreclosure prevention advocates. Transfers of property among family members are common, often precipitated by a death in the family. Unfortunately, transferring the mortgage and the note from one family member to another is not a simple task and is often not addressed until after the loan is in default. The Garn St. Germain Act only stops acceleration of the loan based on the transfer of property, it does not mandate that the lender allow assumption of the loan. Given the lack of clear answers, this training addresses the questions advocates should ask of their clients and the tools available to bring lenders to the table on assumptions. |
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