Also, consider talking to the lender. It is true that your chances of assuming the loan is very low. However, depending on the lender and your ability to pay the loan, a lender might do something out of the ordinary for you. It has happened. Nothing ventured, nothing gained.
Keller Williams Realty Professionals
If your credit score isn't high enough or your income isn't verifiable then you probably cannot get a mortgage, except from a Hard Money Lender (i.e. a Loan Shark).
The company your landlord is making his (or not making) mortgage payment to is probably not the actual owner, but a mere "servicer" collecting the payments for the lender. You can search MERS to see who owns the mortgage here:
Then try NACA to get qualified for their "special" breed of mortgage or also contact a credit union.
The banks don't really care if you pay your rent on time if your credit score isn't sufficient to get an investor to take a risk on you, sorry.
So, go to http://www.DaveRamsey.com and take his Financial Peace University at a local place in Pembroke Pines and you may find it's the best $100 you've ever sent. I'm not a bible thumper but Dave Ramsey is genuine and has good practical, no nonsense advise about getting yor financial house in order. Wish I'd found his teachings about 10 years ago!
Good luck and get things in order so you can explore all available properties once you're ready to buy.
All the best,
Most are not assumable.
You can buy it in a short sale, however. If you have credit issues that may prevent you from getting a mortgage, you may want to look into NACA. Decide on a Realtor, first, and then have your chosen Realtor input your details on http://www.NACA.org. If you don't have your Realtor input your details then you will be required to work with a Realtor that has been chosen for you!
Hope this helps.
I would seriously doubt that you can assume their loan, and that is probably confidential anyway.
Your best best would be to contact a Realtor and have them research it for you.
Good luck and may God bless