A lender's fee for processing an assumption request
The fee, normally about $500, covers the processing and administrative costs for a buyer to assume an existing loan.
See: Assumable mortgage
Mortgage definitions and Real Estate Terms, Consolidating loans, refinancing mortgages and reverse mortgage process available to anyone. This consumer information site contains several tools and guides to aid in purchasing or refinancing a home or commercial property.
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Friday, April 14, 2006
