assignment of mortgage


A written document serving as evidence of a transfer of a loan obligation from the original borrower to a third party.

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The assignment of mortgage was included in the evidence presented to the court during the chapter 13 bankruptcy case yesterday.

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When they decided to sell their home after thirty years of living their, they had to pass over an assignment of mortgage to the ecstatic new owners.

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In rare circumstances, homebuyers merely assume the mortgage of the home seller, which is documented by an assignment of mortgage, rather than seeking a new loan to purchase a property.

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