Finance
An assumable mortgage allows:
AThe seller to keep the mortgage after selling the property
BA new buyer to take over the existing mortgage with its original terms✓ Correct
CThe lender to increase the interest rate upon property sale
DRefinancing without fees
Explanation
An assumable mortgage can be taken over by a new buyer, who assumes responsibility for the loan with its existing interest rate and terms. FHA and VA loans are often assumable.
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