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ken0042 · 10-08-2006, 01:08 PM

I would say the risk is small right now.

Advantages:
- No penalty for closing the mortgage early.
- Large cash down on most is very much worth the risk for the seller. IIRC one of the terms of me assuming the mortgage was that I wouldn't have gotten any money back if I forced forclosure in the first year or 6 months.
- More buyers available. (ie I wouldn;t have bought my current house if it wasn't assumable.)

10-08-2006, 01:08 PM	#4
ken0042 Playboy Mansion Poolboy Join Date: Apr 2004 Location: Close enough to make a beer run during a TV timeout Exp:	I would say the risk is small right now. Advantages: - No penalty for closing the mortgage early. - Large cash down on most is very much worth the risk for the seller. IIRC one of the terms of me assuming the mortgage was that I wouldn't have gotten any money back if I forced forclosure in the first year or 6 months. - More buyers available. (ie I wouldn;t have bought my current house if it wasn't assumable.)