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.
Assumption Agreement Form In Kings
Category:
State:
Multi-State
County:
Kings
Control #:
US-00424
Format:
Word;
Rich Text
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This mortgage assumption agreement allows a new borrower ("Borrower") to assume an existing mortgage from the original borrower. THIS FORM MAY ONLY BE USED IN CONNECTION WITH MORTGAGES ORIGINATED ON FORMS WITH REVISION DATES PRIOR TO 9-1-2011.An assumable mortgage can be helpful to a seller when interest rates are high, but assumable loans tend to lose their appeal when rates are low. Effective as of the date hereof, (i). 1. Read the agreement carefully to understand the obligations.