i asked a owner if his loan is resumable, he doesnt know.
i dont think there are title companies in Toronto, though i am not sure. this may be a lead to pre-foreclosure list.
anyone know? please reply
I think you mean an ‘assumable’ mortgage, not a ‘resumable’ one. That means that someone else could take over the mortgage payments and the mortgage would be transfered to the new payee. Most assumable mortgages are older ones, hard to find those nowadays.
yah i meant assumable.
how can you tell if one is assumable?
If the seller doesn’t know - you need to look at the mortgage contract. It will be in there.
woot. ty. :biggrin