Quote:
Originally Posted by LAHAL
Can people still assume a mortgage?
I currently own a townhouse that I have rented out. The value of the property is lower then the mortgage, so I can't sell it.
I want to buy a bigger house and don't want my townhouse to effect me qualifying for what I want.
So, can someone still assume a mortgage?
Thanks.
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Is the townhouse deal a CMHC insured Mortgage? You can still be sued is the person that assumes defaults...