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Ellen, Attorney
Category: Bankruptcy Law
Satisfied Customers: 36714
Experience:  Bankruptcy Lawyer. Experienced.
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I purchased a rental property subject to an existing loan that

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I purchased a rental property subject to an existing loan that was in default. I beleive I am legally considered a "non-assuming grantee"m since I did not assume the loan but acquired the property
"subject to" the existing mortgage which is still in the name of the grantor who sold me the property. I filed Chapter 13 to prevent the foreclosure of the property. In my Chapter 13 plan can I force the lender to allow me to cure the existing mortgage default?

So sorry to hear of your difficult situation. If my answer is not clear to you, I encourage you to ask me for clarification by using the reply button.

You are correct that you would be considered a nonassuming grantee. Provided that the transfer of the property to you did not breach the terms of the mortgage, you may use a chapter 13 to reinstate the mortgage default.

Please let me know if you have any questions concerning my answer.
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