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ADJUSTABLE RATE RIDER(6Month LIBOR Integrate Caps) (Assumable after Initial Period) (First Business Day of Preceding Month Look back) THIS ADJUSTABLE RATE RIDER is made this day of, and is incorporated
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Assumable after initial period refers to the ability of a borrower to transfer the terms and conditions of a mortgage to a new buyer.
The borrower or homeowner is required to file assumable after the initial period.
Assumable after the initial period can be filled out by providing the necessary information about the mortgage terms and the new buyer.
The purpose of assumable after the initial period is to allow the transfer of mortgage terms to a new buyer without refinancing.
Information such as the current mortgage terms, the new buyer's information, and any necessary documentation must be reported on assumable after the initial period.
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