Definition of "Mortgage relief"

DAVID SUTTON real estate agent
DAVID SUTTON, Real Estate Agent C-21 VAN SYCKEL- GOLDEN POST

  1. Bank modifies the borrower's mortgage obligation, such as when the bank approves the homeowner's request for an extension of time to pay because of illness or loss of a job.
  2. One's mortgage obligation is assumed by another. An example is when the buyer of a home assumes the remainder of the seller's mortgage.

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