Buying a house subject to the existing mortgage is a real estate strategy where a buyer purchases a property while leaving the seller’s mortgage in place. Essentially, the buyer assumes responsibility for making the mortgage payments, but the mortgage remains in the seller’s name. This approach can be advantageous for both parties under certain circumstances. For the buyer, acquiring a property subject to the existing mortgage can offer several benefits. Firstly, it may allow them to bypass the traditional mortgage application process, making it easier and quicker to secure the property. Additionally, if the existing mortgage terms are favorable, the buyer can potentially benefit from lower interest rates or avoid upfront closing costs associated with obtaining a new loan. On the seller’s side, this arrangement can provide a solution for selling a property quickly, particularly if they are facing financial challenges or need to relocate urgently. By transferring the property to a new owner while retaining the existing mortgage, the seller can avoid foreclosure or the burden of continuing mortgage payments on a property they no longer wish to own.