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deed of sale with assumption of mortgage

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1 deed of sale with assumption of mortgage on Fri Nov 05, 2010 6:06 am

4boys


Arresto Menor
nag housing loan po ako sa sss wayback 1992. after a year or two ay nagka problema ang house, nag leak ang bubong na concrete naman at bumagsak ang floor na marmol, as in bumaba ang sahig at nabiyak/nagbitak. sinabi namin sa developer. at dahil hindi pa kami nakakatapos ng bayad sa kanila ay sinabi ko sa kanila na fix the damages before i continue paying for the equity. they did not bother and ang ginawa nila ay pinaalis kami ng pamilya ko sa unit at pilit ako pinapirma ng deed of sale with assumption of mortgage. i comply. after so many years ay bigla may kumontak sa akin na anak ng developer daw at pinagagawa ako ng bagong deed of sale but it will be under her name. ang pinirmahan ko daw na deed of sale with assumption of mortgage ay kulang daw ng pirma ng asawa ko at hindi nila makuha sa isang bahay financial dahil nakapangalan daw sa aming mag-asawa ang title. ang sabi ko ay gusto kong makuha ang mga ibinayad ko sa equity in exchange for the signature of my wife, which is more or less 100k. can i demand such amount? and the bahay financial is calling me and informing me that they will auction the property soon. what is my best recourse for this problem? thank you very much in advance.

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2 Re: deed of sale with assumption of mortgage on Fri Nov 05, 2010 9:49 pm

attyLLL


moderator
what does the deed of sale with assumption of mortgage say? that you are selling the property to the developer and they are assuming the mortgage?

after this, who was paying for the monthly amortizations?

do you still live at the house? or after they pulled you out, you lived else where?


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3 Re: deed of sale with assumption of mortgage on Thu Sep 29, 2011 3:08 pm

batobalani


Arresto Menor
What is deed of sale with assumption of mortgage

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4 Re: deed of sale with assumption of mortgage on Fri Sep 30, 2011 7:55 pm

attyLLL


moderator
that is purchase of a property which has been mortgaged previously. the buyer will undertake the responsibility and risk of the loan.


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5 Re: deed of sale with assumption of mortgage on Tue Jul 17, 2012 2:44 am

Northernsons


Arresto Menor
We are planning to assume mortgage in the bank..

which document is best to produce Deed of sale with assumption of mortgage or absolute deed of sale open (no dates and amount) just the signiture of the seller and the buyer????

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