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[-] Assuming non-Assumable mortgage? - Alix Ott/MI (4 replies)
9/2/2015 8:33:21 AM (1913 views)

So, party A deeded into party B a year ago.  The WD -- which was prepared by a lawyer, not a title company -- has an attachment that simply states that the grantee agrees to assume the mortgage at liber/page blah blah. 

Only there is a non-assumable without permission clause on that VA loan.

Should there have been something recorded regarding VA's approval of the assumption?  If there WASN'T such agreement, did the lawyer just plain blow it or were they capitalizing on a loophole:  The mortgage itself does not appear to have that non-assumable clause we all see now in all caps on the first page of the mortgage.  The non-assumable verbiage is only on the RIDERS (which are attached to the mortgage).

What do you think?  Anyone run into this before?

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Re: Assuming non-Assumable mortgage? - Robert Franco/OH
9/2/2015 1:46:33 PM (1819 views)
Re: Assuming non-Assumable mortgage? - Alix Ott/MI
9/2/2015 4:42:05 PM (1732 views)
Re: Assuming non-Assumable mortgage? - Michael Madden/RI
9/3/2015 9:02:21 AM (1572 views)
Re: Assuming non-Assumable mortgage? - Carol Clark/NY
9/14/2015 10:37:14 AM (1295 views)

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