Legal Question in Real Estate Law in Georgia

I live in Georgia and I want to buy someones house who has negative equity and I want to offer them a Mortgage Payment Assignment. Where I take over their mortgage payments and leave the mortgage in their name, what kind of deed do I need for them to sign and is this legal?

Asked on 7/24/13, 2:30 am

2 Answers from Attorneys

Glen Ashman Ashman Law Office
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No it's not legal. Read the mortgage, which will have a due on sale clause, meaning the lender can foreclose unless they approve you assuming the loan. Rethink your plans.

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Answered on 7/24/13, 2:36 am
Scott Riddle Law Office of Scott B. Riddle, LLC
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What you describe is exactly the method whereby criminals defraud people out of their homes and money. Whatever your intentions, you probably should find a new plan.

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Answered on 7/24/13, 2:41 am

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