If a mortgage is about to be foreclosed, can someone take over payments and aquire the title with bad credit?

Most loans are NOT assumable. That being said, I buy homes regularly by taking over the payments. I leave the loan in the original borrower's name and make up any late payments and then make payments on time after that.

But not everyone is like me. They may not care about the persons credit who is on the mortgage. I think that is sad, but nevertheless true.

The challenge you may run into is that the lender usually has the option to invoke the "Due on Sale" clause at any time the title/deed changes hands. While rare, it is something that you have to contend with and be ready to get a new mortgage or lose the house.

Hope that helps.

Homes relief. NOT! Danger Will Robinson, Danger!

Risk losing the house, any money you have tied in the house and destroying your credit for a much longer time than bankruptcy.

99.9% of mortgages are not assumable.

Step 1 call friends and family to ask for help, but only do this if you are in a temporary situation. Temporary situations you can make payment arrangements with your friends/family and pay interest to them until relief arrives.

If you are having a long term problem follow these steps

1).Call a local real estate agent. Ask for a market analysis of the property. This is a free service.

2) If the property has equity, put it on the market before foreclosure proceeding at a price that covers the existing mortgage (you'll need a payoff for roughly 90 days out ) any commissions, taxes etc. The real estate agent can help you estimate those expenses.

3) Have the home listed in a way that if you find the buyer you don't have to pay your real estate agent a commission.

4) Somehow investors always seem to know when a homeowner is in trouble. Save the letters you receive from them, write down their phone numbers, if your agent can't get the house sold, call the investors.

If all this fails call an aunction house. Your home is your biggest asset. Don't turn over and play dead, fight, get your money out, regroup and come back.

Bad credit is one of the worst problems to have... however there exists a solution.

I will hereby talk from my personal experience.

I did debt consolidation a couple of years ago, however If I had to do it again I would pay to some minor details,

if someone wants to get out of debt today it is pretty easy with a debt consolidation plan, however it may get a bit tricky at times, I suggest you get as much information as possible online on this first,

a good place to start in my humble opinion is astraight to the point ebook with question and answer I found :

http://umgarticles.atspace.com/debt-consolidation....

if it helps kindly remember me in your voting!.. cheers!

It's too good to be true, sorry to disappoint you but all that Homes Relief wants is for you to pay them the money it costs to get their information and then you're out of your money and hopefully a little bit wiser but you can save yourself that money because you're already a bit wiser than them, see?