Take Over House Payments: How to Assume the Mortgage for a Family Member
Make sure that you keep everything in writing when forming an agreement to take over a relative's mortgage payment. If you are looking to take over house payments from a relative, you need to have all of your ducks in a row. If you can make a deal work, then you can save many costs that would otherwise eat up your budget. Here are the steps to assume the mortgage for a family member.
What Is an Escrow Account?
You're going to hear the word "escrow" a lot when you're buying a home, whether it's someone referring to an "escrow" account orgoing into escrow.