When the house won't sell, sell the mortgage

An assumption allows a buyer, who must still qualify with the lender, to step into a mortgage without having to fork over a down payment or pay hefty closing costs.

That could be particularly attractive to some would-be buyers, especially since lenders are requiring larger down payments or mortgage insurance to protect themselves in a weak real estate market. Even FHA loans will soon limit sellers from financing the 3 percent down payment that is required.