Your Home Loan Sold After Transaction

Your Home Loan Sold After Transaction

I recall when I received a letter in the mail stating that I was now going to have to make my mortgage payments to a bank instead of the mortgage company who had originated our loan. In my skepticism and distrust, I called the mortgage company for clarification. I wanted to ensure I paid my mortgage while ensuring I paid the right person. Last thing I wanted was to be foreclosed on my home due to “lack of payment”! Dramatic, I know, but it’s how I felt and I didn’t know.

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As a realtor now, I know better and can tell you that it is very common practice for the mortgage lender who you worked with throughout the transaction of your home to sell your loan to someone else. It happens more often than not.

It is still good practice to verify that is the case, since there are scammers out their, but hopefully knowing this in advance will help prepare you mentally for the day it occurs.


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(928) 366-8024

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Phone: 928-366-8024
Dated: April 29th 2019
Views: 288
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