DO FHA loans allow for someone to take over payments?

Real estate in my area is in a slump and I am trying to sell to relocate. I am on my third realtor and still nothing. I am thinking about offering to sell the house for 10K(my equity) and allow the buyer to take over payments(56K) but my loan was an FHA loan(Countrywide is the lender) Can I do this?

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This entry was posted on Saturday, May 23rd, 2009 at 10:26 pm and is filed under FHA Loans. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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2 Responses to “DO FHA loans allow for someone to take over payments?”

Expert Realtor says:

May 23, 2009 at 10:26 pm

Yes, they do. The buyer has to credit-qualify on the same guidelines that you did when you bought it.

Tip: Check the going interest rate for FHA…if your interest rate is substantially lower…you can really command a premium price for your home if the buyer is assuming your ancient loan.
DO FHA loans allow for someone to take over payments? · Real-Estate.ExplainedOnline.Net says:

May 23, 2009 at 11:19 pm

[...] Original post by FHA Loan Rates [...]

Tags: fha loan, real estate, realtor, slump,

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