Real Estate News From Around The World February 9, 2012

Contrast "Assumptions" And Buying "Subject To" The Loan? Question: What is the difference between "assuming" a loan and buying "subject to" the mortgage? Answer: In the general case, with an "assumption" a lender will first pursue the new borrower and then come after the original debtor if there is a default. If the loan was taken "subject to" the mortgage, then the original borrower remains responsible for the loan in the eyes of the lender. Written by Peter G. Miller. © 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices. Click here for a printer-friendly version of this article. Click here to translate this page to another language. Copyright © 2012 Realty Times. All Rights Reserved. Send Us Your Comments