In our country we have this term "pasalo" - which is the same as assuming the mortgage balance. Some sellers are posting their advertisement in Facebook asking for an amount that they had paid for the equity and some of the monthly instalments that they made. We are currently saving some cash and looking for one as majority of the people who have mortgage loans are in default due to pandemic. Price wise, we might be able to save some by discussing it with the owner of the house.
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yeah assuming the mortgage is a great strategy but you cannot easily do it in many of the U.S. states. What country are you in?
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I am from the Philippines.
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