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| alicia gist |
 Posted: Fri Mar 18, 2005 4:15 pm Post subject: My mortgage just got sold |
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Investing Sr. Associate
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| I just got a letter that my mortgage company sold my mortgage to someone else. Should I be worried? |
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| MrInvestor |
| Posted: Fri Mar 18, 2005 11:41 pm Post subject: |
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Investing Manager
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It tends to happen, I wouldn't be to worried.
It's a pain when it's your local bank where you like to do business and they sell it somewhere you've never heard of. I like thinking my money is going local building the community. |
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| paula0000 |
| Posted: Sat Mar 19, 2005 12:20 pm Post subject: |
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Investing Manager
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| I've had that happen before. They let me know and then it was business as usual. It was a few years ago when Montreal Trust was bought out by Scotiabank (Canada) |
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| Dave Rathbun |
| Posted: Tue Apr 12, 2005 9:41 am Post subject: |
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CFO
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Absolutely nothing to worry about. Financial companies try to balance their portfolios, just like everyone else (should). So from time to time they will sell off bundles of mortgages to even out their risk. Your loan rate / terms cannot change (by law) so you really don't have anything to worry about.
It's not like you're going to complain if the company goes under and all of a sudden stops cashing your house payments.  |
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| bigdave |
| Posted: Mon Apr 25, 2005 5:18 am Post subject: |
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Investing Sr. Associate
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| No worries just make sure you pay on time |
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| zerolikedis |
| Posted: Thu May 12, 2005 2:38 pm Post subject: |
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Investing Manager
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| i had to stop a check because they sold it right before my first payment. kinda late payment to the new morgatage but the new people didnt trip. |
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| Colli |
| Posted: Sun Nov 18, 2007 3:58 am Post subject: |
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Investing Sr. Associate
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| This is more common than not. What would worry me more than the fact my mortgage got sold is why it got sold. There are good reasons and bad reasons as to why this happens. |
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