need to transfer
2006-07-19 02:50:17 · 4 answers · asked by Robert L 1 in Business & Finance ➔ Other - Business & Finance
If I could, I'd transfer my loans to you.
2006-07-19 02:53:35 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Only with the permission of the lender. In most cases, your loan documents will say whether transfers, or assumptions, are allowed. Currently, most mortgage loans are NOT assumable by another party because the lender was not able to qualify the new person.
2006-07-19 02:57:17 · answer #2 · answered by extra_37 4 · 0⤊ 0⤋
It's up to the lender. Often, the lender will require the new person to apply for a new loan. But if the lender lets you transfer the loan, that doesn't necessarily mean that you are off the hook if the new person fails to pay.
2006-07-19 02:54:00 · answer #3 · answered by Larry 6 · 0⤊ 0⤋
take the person to the financial institution and tell them the other guy wants to take over the loan.
2006-07-19 02:54:27 · answer #4 · answered by dan 4 · 0⤊ 0⤋