Mortgage Assumption Agreement - Original Holder Released

This Mortgage Assumption Agreement releases the original mortgage holder from further obligations. This agreement sets out the names of the original mortgage holder, mortgage lender and the new purchaser of the home. It also contains the date of original mortgage, address and recording information, original principal amount of the mortgage and the principal amount now outstanding as of the assignment date. It is imperative that an assumption agreement of this type be set out in writing. A written Mortgage Assumption Agreement – Original Holder Released will prove valuable in the event of disagreements, misunderstandings or litigation. (continued ...)