TRUE!!! You do not need to assume the loan nor do you need the lenders approval. The bank does not own the property.The loan will remain in the sellers name. If you don't make the payments, the property will revert back to seller. The seller is fully responsible for the loan. You should set up a third party system to ensure the bank receives the payment. However, if the lender has a "due on sale" clause (which states the bank can call the loan due in full if ownership transfers) they could force the seller to pay the full balance of the loan. VERY UNLIKELY!! The bank does reserve that right, but they rarely ever exercise it. If they are getting paid, they don't care!!!. Banks are in the business of making money. If they foreclose, they loose. If they shortsale, they loose. Now if you stop making payments, and the seller can not keep it current, then the bank might use this clause to speed up the foreclosure process. MAKE YOUR PAYMENTS! So it can be done easily but always do your due diligence. Be responsible. As a real estate investor, I have acquired many properties this way, and I will continue to do so. Good luck!