Question by JosieE7: I need to find someone to assume my house loan. How do I get started?
I’m recently divorced and my oldest son just moved out. I don’t have the money to fix it up, but I want to find someone to Assume my loan. I did start removing wallpaper from the previous owners and I’m painting. But it’s a nice size house and I just need to get rid of it. It’s just me and my 16 year old and it’s too big and I’d rather spend the money I put towards the mortgage on me ane my kids. I just need some help badly and would rather have someone assume it rather than giving it back to the bank. Any suggestions?
My bank will let me do an assumable loan and there are papers that state that I will not be held liable once the new owners take possesion of the property. I don’t want to turn it over to the bank and file for bankruptcy.
Best answer:
Answer by badotisthecat
you could try to sell it and use the proceeds of sale to pay back the mortgage.
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