In a mortgage assumption, both the original mortgagor and the transferee are liable, and the property is subject to foreclosure by the mortgagee in the event the payments are not made.

Question

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Both the original mortgagor and the transferee (person assuming the mortgage) are responsible for making mortgage payments and the mortgagee (lender) can foreclose on the property if payments are not made.

In a Mortgage Assumption, Both the Original Mortgagor and the Transferee