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Good evening! I can help you out with your legal question tonight. Yes, a mortgage can be assigned by the mortgagor if the mortgage document provides for the same. Are you asking if the lender can assign your loan to another bank? Or are you asking if you can assign your loan to another person?
if i can
Usually they write the mortgages so that you cannot assign or transfer the mortgage to any other person. However, they write it such that they can assign the mortgage to anyone. If you look at your mortgage, you will see that it is nontransferable.
The reason for that is because they lent you money based upon your personal situation. They do not want to take the risk of you transfering your obligation to another person, whom they did not research.
i sorry i meant if i did it as an investment strategy
Even for an investment strategy they will not allow it. You can get around it by renting your house. That way you don't assign the debt/note, but you can still have someone else pay it. Ultimately, that leaves you on the hook for the loan amount still.
so i can't go to a home owner and assign there mortgage to and end buyer legally
You can always check the mortgage verbiage, but I've never seen one that allows you to do that, correct.
thanks for the info