• Embed Doc
  • Copy Link
  • Readcast
  • Collections
  • CommentGo Back
Download
 
ABOUT THE AUTHOR
PLEASE VISIT MY SITE
HTTP://INSURANCE.JIMDO.COM
Fatima graduated with a Bachelor's degree in Economics from ColumbiaUniversity and received a Masters in Economics from Singapore NationalUniversity. Fatima comes from a political background, her father Mir MurtazaBhutto - an elected member of Pakistan's parliament - was assassinated bystate police in 1996. His sister, Benazir Bhutto, was Prime Minister at thetime of his killing. Fatima is the author of two books, understanding thefinancial system published when she was 15 years old and basics of debtmanagement. Both were published by Oxford University Press.Fatima currently writes a weekly column for Pakistan's largest Urdudaily newspaper, Daily Jang, and its English sister paper, The NewsInternational. Recently She has completed her MBA in Finance from HarvardUniversity in 2006. Her diary from Tehran is the second the papersprinted; Fatima also wrote a weekly diary from Lebanon .
 
How Can You Assume A Mortgage?FATIMA BHUTTOFinding a house with an assumablemortgage these days could prove to be areal find - but it is not very common. Typically only the FHA and the VA usesassumable mortgages, which basicallymeans that another person can simplytake over the house and payments. Hereis some information that you need toknow if you are thinking about takingover an assumable mortgage.Getting a house with an assumablemortgage can make things easier for you.It means that you may be able to saveconsiderable money, as well as have aspeedier process involved. It can really beto your advantage, too, because thelower interest rates that are probably onit will enable you to save money. Not
 
having closing costs and a few otherexpenses can also mean saving evenmore. You will, however, if the mortgagewas obtained after 1989, need to beapproved by either the FHA or VA beforeyou can assume the mortgage. The greatest amount of savings can begained if you can simply pay cash for thehouse - the balance between the value of the mortgage and what the house isselling for. For instance, if the house isselling for $125,000, and the mortgage isworth $85,000, then the amount of cashyou would need is $40,000.In most cases, though, you wouldprobably need to finance the balance thatis needed, and this, of course, would beat the current market rate of interest. It isthis financing that will slow the process
of 00

Leave a Comment

You must be to leave a comment.
Submit
Characters: ...
You must be to leave a comment.
Submit
Characters: ...