This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. This episode covers content for the National Real Estate Exam.

In this episode you will learn:

• The critical legal differences in personal liability between assuming a mortgage and taking title subject to a lien.

• How the process of novation works to legally release an original seller from debt obligations.

• The role of the alienation clause and why it prevents the transfer of most conventional loans.

• Which government-backed loan types typically allow for assumption by a new buyer.

• How to identify the correct party responsible for deficiency judgments in different foreclosure scenarios.

For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or Youtube Channel: https://www.youtube.com/@Open-exam-prep