07-15-2011, 09:00 AM
Nancy, we have been disagreeing on this for a long time and I certainly don't want to reignate the disagreement, you have the right to believe in whatever you want to believe in. However, it takes about 30 seconds on the MERS web site to find out who holds your loan and who is your loan servicing company. You can also do the following if you want to double check:
1. Check your current mortgage statement. There will be a name and number of the company that is servicing your loan. Call this number and ask who owns the loan. The servicing may or may not be able to tell you who owns your loan.
2. Call FHA National Servicing at 800.225.5342 to find out who holds your loan if you have an FHA loan.
3. Call your original lender if you are unsure if it has sold your loan. An account representative will be able to verify that a transfer of service took place, and to what company your loan was sold.
While some people might welcome the new "Hawaii Foreclosure Law," the lenders already proved it what it is really worth! Guess who will get screwed because of the new law! The homeowners being foreclosed on. There was no deficiency judgment with the non-judicial foreclosures and the homeowners walked away free from future liability for the unpaid loan amount. With the judicial foreclosures now mandated, the homeowners will be on the hook for the unpaid balance, not to mention the tax liability to IRS!
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)
1. Check your current mortgage statement. There will be a name and number of the company that is servicing your loan. Call this number and ask who owns the loan. The servicing may or may not be able to tell you who owns your loan.
2. Call FHA National Servicing at 800.225.5342 to find out who holds your loan if you have an FHA loan.
3. Call your original lender if you are unsure if it has sold your loan. An account representative will be able to verify that a transfer of service took place, and to what company your loan was sold.
While some people might welcome the new "Hawaii Foreclosure Law," the lenders already proved it what it is really worth! Guess who will get screwed because of the new law! The homeowners being foreclosed on. There was no deficiency judgment with the non-judicial foreclosures and the homeowners walked away free from future liability for the unpaid loan amount. With the judicial foreclosures now mandated, the homeowners will be on the hook for the unpaid balance, not to mention the tax liability to IRS!
Aloha,
John S. Rabi, GM,PB,ABR,CRB,CM,FHS
888.819.9669
johnrabi@johnrabi.com
http://www.JohnRabi.com
Typically Tropical Properties
"The Next Level of Service!"
(This is what I think of the Kona Board of Realtors http://KonaBoardOfRealtors.info)