Quitclaim/Existing Mortgage Question

[Cavelle Martin]

Hello. My spouse and I currently rent a home from an acquaintance who no longer cares to deal with the stress of a place that needs work and is the byproduct of a bitter breakup. In other words, this place is a total thorn in her side and she's stuck with it. She is currently using our rent to cover the cost of an existing mortgage on the home. My spouse and I dont qualify for home ownership via traditional means however we have paid our rent on time (in many cases early) for a year now. We would love to fix the place up and make it a true home.Talks of taking the property off her hands via a quitclaim have come up and we would even be willing to assume the remaining mortgage. I know lenders don't typically care for the idea especially if a "due on sale" clause is in place but in this case, since we have proven financial consistency via prompt rent payments for a year already, would the lender potentially consider this a form of financial credibility?

[Michael Noto]

@Cavelle Martin If the loan is assumable just have the current owner call their lender and see what would have to happen for them to allow you to assume the loan and take it from there.