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US Legal Forms
Agreements - Agreement Forms
Assumption Agreement of Loan Payments

Mortgage Assumption Agreement Form In Hennepin

Name: Mortgage Assumption Agreement Form In Hennepin
Brand: US Legal Forms

Category:

Loans and Lending - Assumptions

State:

Multi-State

County:

Hennepin

Control #:

US-00424

Format:

Word;

Rich Text

Instant download

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Description

This form is an Assumption Agreement. The form provides that the grantee will assume a lien on property described in the agreement. The assumption will become effective on the date provided in the agreement.

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Purpose: To release original borrower from liability under the mortgage. Distribution: Recorded original to Servicer.Establish property records and record real estate transactions within Hennepin County. An assumable mortgage allows a qualified buyer to assume a home's remaining mortgage balance. Ensure all necessary financial information is accurately provided. Learn more about USDA loan assumption, including the process, eligibility and benefits of assuming a USDA loan. Before you fill out the Loan Qualification Worksheet, find out the current industry numbers from a loan officer or mortgage broker.