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assumable mortgage - A mortgage that can be taken over ("assumed") by the buyer when a home is sold. Not very common in the past 20 years.
Also check out Mr. Thifty's Guide to Shopping for a Mortgage
About Mr. Thrifty: Mr. Thirfty's goal is to help others make the most out of their financial resources through education, suggestions and humor. If you like what you see, tell your friends about Mr. Thrifty!
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