http://fordfinancial.wordpress.com/2008/07/16/3-down-to-be-gifted-or-not-to-be-gifted/ "A Saint in Todays Crazy Mortgage Industry" Sat, 25 Oct 2008 22:05:45 +0000 http://wordpress.com/ hourly 1 http://fordfinancial.wordpress.com/2008/07/16/3-down-to-be-gifted-or-not-to-be-gifted/#comment-48 Brad Clemons Fri, 18 Jul 2008 14:53:51 +0000 http://fordfinancial.wordpress.com/?p=61#comment-48 Another great option for FHA mortgage holders is that they are assumable. Many people do not realize that government loans are assumable. In today's real estate market many people have little or no equity and need to move. By advertising their assumable mortgage the buyer would need to credit qualify with the current lien holder but could assume the seller's mortgage. Both parties could save thousands of dollars and the seller could use their real estate agent to find another house with more money in their pocket. Another great option for FHA mortgage holders is that they are assumable. Many people do not realize that government loans are assumable. In today’s real estate market many people have little or no equity and need to move. By advertising their assumable mortgage the buyer would need to credit qualify with the current lien holder but could assume the seller’s mortgage.
Both parties could save thousands of dollars and the seller could use their real estate agent to find another house with more money in their pocket.

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