Maryalice Ryan
Maryalice Ryan
(908) 917-5801
maryaliceryan@comcast.net

Coldwell Banker Residential Brokerage
209 Central Avenue
Westfield, NJ 07090
Direct Line: 908-928-9121
Cell: 908-917-5801
Fax: 908-233-8780

Westfield, New Jersey Area Real-Estate


Real Estate Glossary

  Assumable Mortgage

A mortgage that can be taken over ("assumed") by the buyer when a home is sold.

A provision in an assumable mortgage allows a buyer to assume responsibility for the mortgage from the seller. The loan does not need to be paid in full by the original borrower upon the sale or transfer of the property.

 

[ Back To Real Estate Glossary ]