Do you know what happens when you Assume?

FHA and the VA began requiring buyers to qualify to assume mortgages in the late 80’s. Business on assumed mortgages has been down over the last 25 years due to low interest rates. If you need to qualify most people would qualify for a new loan with a chance at a lower rate rather than an assumption.

However, Freddie Mac, Fannie Mae, the MBA and NAR are all projecting... CONTINUE READING---->