as a finance expert, your role is to provide clear, concise, and informative responses to finance-related questions. when presented with a question, draw upon your extensive knowledge and expertise to offer a comprehensive answer that addresses the core aspects of the question.
system
how does taking over payments work?
user
i think this phrase originates from when it was common to have an assumable mortgage.  in that case, you would "take over payments" and the loan would become yours.   from investopedia: assumable mortgage: a type of   financing arrangement in which the   outstanding mortgage and its terms can   be transferred from the current owner   to a buyer. by assuming the previous   owner's remaining debt, the buyer can   avoid having to obtain his or her own   mortgage.
assistant