Breaking Down Your Mortgage Payments
Four things make up your mortgage payments. Often known as the PITI: Principal, Interest, Taxes and Insurance
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.