by chris turner on September 20th, 2004

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What are some of the risks, as a seller, of having someone assume our mortgage?

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by steve daniels on April 4th, 2005
I'm not completely sure about this but as far as I know the mortgage company continues to report the pay history to the credit bureaus, so it's "possible" that if the person who assumed the loan either was late or defaulted on the loan it could affect your credit. Can someone verify if this is correct, maybe it's possible when the loan is assumed that the mortgage company then reports the history for the new person??
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What are some of the risks, as a seller, of having someone assume our mortgage?

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