Take Over Mortgage LoansLearn How Owner Financing Works  Take over mortgage, and buying owner financed real estate can be a smart way to own property because you don't need much credit and there are no loan fees.
Learn How to Buy Real Estate Subject to The Existing Mortgage...And Not Worry About Due On Sale Clause Is Possible, But Do Your Home Work First. Want to Take Over Mortgage and avoid all the real estate settlement costs and loan fees associated with getting a new loan? When you take over a mortgage loan you must Fully Understand what could happen if the real estate lender calls the loan... Go to creative financing. Whether a mortgage includes a due-on-sale clause or not, some real estate assumptions are explicitly allowable under the Garn-St. Germain Act of 1982 on certain types of transactions. For example, if the real estate title is transferred after the death or divorce of one of the owners. A take over mortgage loan can be assumed by the surviving owner or spouse, provided they are living in the property. The Garn-St. Germain Law bars real estate lenders from enforcing due-on-sale clause because of death or divorce. Also if a real estate lease is less than three years and the tenant does not have an option to purchase the due-on-sale clause is unenforceable. Go To Owner Financing. 
Assumptions Using a "Wrap-Around" Mortgage It’s possible to arrange a real estate mortgage assumption using a wrap-around mortgage, without the knowledge of the Lender. The seller can craft a Wrap-Around Mortgage document for the buyer to sign, which includes the total amount owed by the buyer... Another idea is do a Rent To Own. The mortgage amount includes any equity the seller has in the real estate plus the underlying mortgage loan.
The buyer makes payments to the seller and the seller makes payments to the lender... Go to Owner Financed Homes. Usually the payments to the seller are larger than the first mortgage and the overall interest rate is higher which allows the seller to make a small profit on the transaction. This can be a Risky situation and IS NOT recommended for amateur real estate investors. Doing business under the table can create financial problems for both the Buyer and Seller.
_____________________________________________ The seller gives up ownership of her real estate but remains liable for the mortgage loan. If the lender calls the loan and the buyer cannot refinance, the buyer could lose the real estate to the seller. Should the buyer stop making payments or if the lender uncovers the take over mortgage scheme the loan could be called due immediately. This means in the next 6 months. If the real estate cannot be refinanced or sold to a new buyer everyone could lose. As a Last Resort Find a Hard Money Lender. _____________________________________________ Having a outstanding mortgage in the sellers name could prevent the seller form obtaining a new purchase money loan. 
Now that I have given you most of the Down Side of Mortgage Assumptions, the truth is there are ways around the due-on-sale clause.
Just like good attorneys have ways around the law. There are ways around due-on-sale clause...and it is not that difficult.
Now that you have made it to the bottom of the page the solution to get around the Due-On-Sale-Clause is; use a revocable trust and have the seller deed the property into the trust and make yourself the trustee. If you need help with doing a transaction like this there is lots of information on this site just keep looking and you will find what your looking for. When you take over mortgage the seller is still on the hook if something goes wrong, so if your a seller protect your self. TAKE OVER MORTGAGE: The best way to protect yourself is by knowing the law and how to use it. This do-it-yourself legal site has the answers. Jurisdictionary is the way to go if you have a pending lawsuit. Watch the FREE Instructional Videos. Left Side Half Way Down...
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