Assume parent’s payments

7 Feb 2024 · 0 min

Watch on YouTube

0:25

In this brief video, the speaker explains that when you inherit a home from your parents, federal law permits you to assume the existing mortgage rather than having to pay it off. You can transfer the deed and loan into your name, continue making the scheduled payments, and essentially pick up where the previous owners left off. The video concludes with a call to click the speaker’s picture link to access a newsletter for more detailed information.

If you inherit a home from your parents, you can keep that home and not be required to pay off the mortgage. Federal law requires that you be allowed to assume the mortgage that your parents had. You can assume that loan that your parents had and take responsibility for future payments with the deed and the loan put in your name. You can just take up where they left off. Click my picture in the link for my newsletter and you'll find out more.