2007-08-16 02:48:28 · 5 answers · asked by Mary D 2 in Business & Finance ➔ Renting & Real Estate
Your mortgage will be picked up by someone else. They'll advise you where to send your payments.
Mortgages are frequently traded on the financial markets, individually or in blocks. It's not unusual to have your mortgage sold to several different investors over the years. When it happens you'll receive a letter advising you of the new mailing address.
Additionally, mortgages are often serviced by dedicated mortgage servicing companies. It's possible that the new holder of your mortgage may use the same servicing company so the mailing address wouldn't change at all.
2007-08-16 02:57:23 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 1⤋
The mortgage will most likely be sold to another mortgage company in an effort to get cash. The new company will contact you.
2007-08-16 02:51:41 · answer #2 · answered by Luv2Answer 7 · 1⤊ 1⤋
The same one you are doing now..untill otherwise notified otherwise..just make sure you keep accurate records..because if the company folds completely and another company takes over there may be lost records and you may be asked to prove you made payments.
2007-08-16 02:56:58 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Your mortgage would be sold and you will be contacted by the new company.
2007-08-16 02:55:45 · answer #4 · answered by Mike 6 · 1⤊ 1⤋
The new company. (They have you on file. Dont worry about it. )
2007-08-16 02:55:39 · answer #5 · answered by OrionCheung 3 · 0⤊ 1⤋