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More information on the law here, they have to let her assume the loan.She just needs to call them.Federal law, specifically the Garn-St. Germain Depository Institutions Act of 1982, allows an exception to the due-on-sale clause when a property transfers by inheritance. The law allows a close relative who inherits property to assume payments on the mortgage and retain ownership of the property. A joint tenant, who shares title to the house, may also assume the mortgage; the most common situation involves a surviving spouse who still lives in the residence
There is no qualifying here if she just notifies them she is heir and the other person deceased.Garn-St. Germain says they have to let her assume it without strings or qualifying here.
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