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Updated over 1 year ago on . Most recent reply

Finding assumable loans
I was wondering if anyone has had any success or can share insight about the process of assuming a loan from a seller when acquiring a property. The idea makes a ton of sense for both buyer and seller; but I was wondering if this is actually happening often from anyone who would like to contribute. As a real estate agent I'm able to look through the closing disclosures of my sales and I have not yet found one loan to be assumable. Is it less common locally to North Jersey, or less commonly available all together?
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This of course does not include Sub2 which you are not technically assuming the loan.
- Chris Seveney

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