Q. Is my mortgage assumable?

A. Some mortgages are assumable — that is, they can be assumed by someone else, who will then be responsible for making the monthly payments of principal and interest and some mortgages are not.

Strictly speaking, almost all mortgages have a due-on-sale clause, which means that the lender is entitled to call the loan and demand full repayment of the entire remaining balance when you sell your home or transfer title to your home to someone else. The balance of the loan is due on the sale (at the closing) of your home.

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