This form is an Assumption Agreement. The form provides that the grantee will assume a lien on property described in the agreement. The assumption will become effective on the date provided in the agreement.
Assumption Of Agreement In Virginia
Category:
State:
Multi-State
Control #:
US-00424
Format:
Word;
Rich Text
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The original borrower must be up to date on their mortgage payments. The agencies in charge of each loan program set the requirements for assumption.INSTRUCTIONS: Please complete this form fully and accurately and return it to the office of the Department of Veterans Affairs (VA) shown below. Enclose. You can pay them a small fee to have them write one up for you. If you're looking for an assumption, you'll be dealing with the lender or servicer that made the original VA loan. This new guidance has changed the landscape of VA loan assumptions, which previously could take up to 46 months to gain approval.