Instructors: Lisa S. Mitchell & Todd Condron, Ekko Title
Please note: This course will be virtual only.
You will be emailed the link to pre-register for the virtual class along with course materials closer to the course date.
CE: 2 hours Real Estate Related
This provides an understanding of what a buyer and seller can expect when entering into an assumable loan transaction. This class will define the term assumable mortgage, give an overview of the types of mortgages that are assumable, who can and cannot assume a mortgage , lending criteria needed to be credit approved, release of liability under the terms of the loan, assumption deed, note, and deed of trust. We estimate the timelines of the assumable transaction from start to finish, assumption fees and costs. Finally, a look at the settlement process, documentation needed to complete the transaction, what to look out for, and contract tips. For the right buyer and seller an assumable mortgage would be a great option in this real estate market.