Your documents from closing (or refinancing) will have this information, most loans are not assumable. But sometimes the lender offer loans that can be taken over by someone else. Again, you need to look thru your loan information...if you do not have it, call the attorney you used when purchasing your home, or the mortgage consultant that you worked with. Calling your lender might be also a good idea, if the loan is assumable the bank will let you know how to qualify and what is the procedure.
Please be aware of investors offering to take over your mortgage payments, consult with an attorney before signing any paperwork or giving possession of your home.
If you are not able to continue making payments on your mortgage the banks offer lots of options to homeowners to keep them in their home. There are loan modifications that will lower your interest rate, and sometimes the loan amount. Also, if you are upside down you might consider a short sale, make sure you list your property with an agent that has lots of experience negotiating with lenders. When you sell your home short the lender covers most, or all, of the closing costs including real estate commissions, attorney and title costs.
If you have any further questions please do not hesitate to call me or send me an e-mail.
Certified Foreclosure and Short Sale Specialist