Popular Mortgage Terms

Assumable Mortgage Defined

Assessor: a mortgage that can be transferred from a seller to a buyer; once the loan is assumed by the buyer, the seller is no longer responsible for repaying it; there may be a fee and / or credit package involved in the transfer of an assumable mortgage

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The definitions of the mortgage terms have been taken from various reliable government
publications and we have done our best to verify their accuracy. If you feel any of the definitions
are incorrect or needs to be updated please contact us and we will look into it.

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