Home Buying in 30047>Question Details

Teresa Knight, Home Buyer in Lilburn, GA

Is it possible to substitute an individual on a home loan even if the property isn’t worth what is owed on it?

Asked by Teresa Knight, Lilburn, GA Thu Jul 26, 2012

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Answers

2
If the person has good credit and is willing to pay more for a house than it's value they might be able to get an investor loan. The home would not be used as collateral so the value wouldn't be an issue. They would just pay off the mortgage and own the house free and clear. You are welcome to contact me anytime with any questions.

Dominique Wilder
Universal Acceptance
559-375-2512
0 votes Thank Flag Link Fri Jul 27, 2012
The lender would have to approve any change to the loan, it is doubtful that they would but it would be up to them.
0 votes Thank Flag Link Thu Jul 26, 2012
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