How do i find some one who needs their morgage taken over?

i am in victorville, ca and i have heard that you can take over peoples mortgage's and it saves them and gets you a house even with bad credit, how do i find someone who needs to get rid of their house?How do i find some one who needs their morgage taken over?
Find a property you would like to buy that has an assumable mortgage. This will take lots of footwork. Generally, an owner or agent will advertise that a property has a loan that is assumable. The only types of mortgages that are assumable are adjustable-rate and FHA mortgages.



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Good luck!How do i find some one who needs their morgage taken over?
To ';take over'; a mortgage it must be assumable. Those loans are far and few these days. Only thing I can say is search the internet for sellers with assumable loans. You still have to qualify with the homeower's current lender.





Jill

jt@firstmmc.com
If Victorville is in the USA, someone told you wrong. Mortgages are not assumable. If you just take over payments, they will find out rather quickly and call the entire note due. If you cannot refinance, you will lose it .
Some of that is true, there are mortgages that can be assumed but what they failed to tell you is that you have to fill out the paperwork and qualify to have the mortgage assumed. What you can do since you have bad credit would be to find someone who is offering a lease option home. Basically you would be renting the house and part of your rent would be saved and considered as part of your down payment. Once the lease option is up you are required to purchase the home with your own mortgage, hopefully by that time you could have improved your credit to obtain your own mortgage. Hope this helps!