Knowing how to protect yourself from a fraudulent mortgage assumption is important.
Don’t pay your mortgage payments to anyone other than your lender or loan servicer. Make sure the person who assumes the loan “records” your name with the trust company that holds the mortgage. If the person you are assuming the loan from doesn’t want the lender to know about it, don’t assume the mortgage.Ā Mortgage fraud is a crime in which the intent is to materially misrepresent or omit information.