In a sale subject to an existing mortgage, the buyer becomes responsible for the seller's payments under the existing mortgage, and the buyer is primarily liable under the mortgage note.

Question

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In a sale subject to an existing mortgage, the original borrower (seller) remains primarily liable for the mortgage payments unless the lender agrees to release them and substitute the buyer as the primary debtor. The buyer agrees to make payments but is not directly liable to the lender under the original mortgage note.

In a Sale Subject to an Existing Mortgage, the Buyer