The deed being transferred without the mortgage being paid off can trigger the acceleration clause. It depends on the loan servicer.
Overtaking a mortgage is a great way to buy a home. If the current owner is behind, catch up the mortgage payments, give them some money to move, and have them deed the property to you.
SilentByAssociation 0 points 1.7 years ago
The deed being transferred without the mortgage being paid off can trigger the acceleration clause. It depends on the loan servicer.
Overtaking a mortgage is a great way to buy a home. If the current owner is behind, catch up the mortgage payments, give them some money to move, and have them deed the property to you.