09-04-2007, 12:06 PM
well bystander from what you say, you are now considered a dead beat by the financial institutions because you can pay your note, and you are a drain on their profit possibilities.
I was in that position once, and guess what, they start repackaging your home loan with a bunch of others, and the name of the game is resell to other institutions. When this happens you get a new mortgage lender each year to make your payment to. Fair warning, keep track of each of these transactions, keep on top of them, document them and be sure that the balances transfered to the new loan holder are correct. Been there done that and it wasn't fun.
mella l
Edited by - mella l on 09/04/2007 17:26:35
I was in that position once, and guess what, they start repackaging your home loan with a bunch of others, and the name of the game is resell to other institutions. When this happens you get a new mortgage lender each year to make your payment to. Fair warning, keep track of each of these transactions, keep on top of them, document them and be sure that the balances transfered to the new loan holder are correct. Been there done that and it wasn't fun.
mella l
Edited by - mella l on 09/04/2007 17:26:35
mella l
Art and Science
bytheSEA
Art and Science
bytheSEA