Are advertisement for taking over mortgage payments legit?
Is this a legitimate agency to homeownership? Or a scam? How does it work?
Just to be clear, we qualify for a home loan, I'm just curious.
It can be a land contract or lease opportunity.
within a few instances it is legal within most it isn't. Most loans are not assumable or transferable to another person... lots of scam artists will use this to find a house on spec and if it doesn't pan out only walk away and be off the original homeowner to swing within the wind.
The reality is when a person take out a home loan or any other loan they are signing a contract between themselves and the lender. the contract is usually written so that the lender has the right to get rid of the loan to someone else... the contract normally does not hold the option written surrounded by where the borrower can assign the responsibility to bear over the loan to someone else... it just doesn't crop up that way.
Answers: It's totally a scam. These companies are not surrounded by a position to issue mortgages, which is what they are saying they do. When you "run over payments" you have to be approved for a mortgage, and you hold to be approved at the same rate the owner be, and so on. There really is no way to do that. These companies are taking assistance of the same "bring back rich quick" greed that got us into this housing crisis.
Can I capture someone to inspect the
Most of the time, they are scam or in some mode bad for the one who call in. It can work if the loan is assumable. Some bank will allow this if you qualify, some won't.
I want to move to Florida. Best
Assuming a mortgage is one possible opening to buy a house, but be careful for scam. Here are a couple of sites that talk around assuming a mortgage. There are many others. You are better sour finding a responsible Realtor and purchase a home without adjectives the red tape.
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