Is it fruitless when the lender sell my mortgage to another company?
The interest rate is fixed and supposedly nothing will change.
Answers:
Don't worry, this happen all the time. It's not a reflection on your as a mortgagee. This is one road than lenders make money and manage their portfolios.
What is key is that the terms of your original mortgage contract (when you closed) should not rework. However, it is up to you to pay attention and make sure your contribution goes to the right place at the right time. Source(s): www.crosstownappraisals.com
No, it's not. It's customary. Nothing change except the mortgager name.
I don't suggest it's "bad" as in you did anything wrong. I think some mortgage companies are set up as "brokers" and you carry your mortgage through them and somehow they get a profit to sell it to another company.
I hold had this happen to friends and some enjoy come out better (better benefits) and other's have had nightmares beside the new mortgage company and ended up refinancing through someone else. Just hang on to an eye on the changes that might take place.
Related Questions:
I hold see the house of my dreams, fruitless timing or what, stipulation a £40,000 mortgage. what would you do?
lb40k is not a big mortgage. If you've get a couple of grand to contribute to a deposit, you should be able to attain a mortgage. I wish I only needed a...
Answers:
Don't worry, this happen all the time. It's not a reflection on your as a mortgagee. This is one road than lenders make money and manage their portfolios.
What is key is that the terms of your original mortgage contract (when you closed) should not rework. However, it is up to you to pay attention and make sure your contribution goes to the right place at the right time. Source(s): www.crosstownappraisals.com
No, it's not. It's customary. Nothing change except the mortgager name.
I don't suggest it's "bad" as in you did anything wrong. I think some mortgage companies are set up as "brokers" and you carry your mortgage through them and somehow they get a profit to sell it to another company.
I hold had this happen to friends and some enjoy come out better (better benefits) and other's have had nightmares beside the new mortgage company and ended up refinancing through someone else. Just hang on to an eye on the changes that might take place.
Related Questions:
I hold see the house of my dreams, fruitless timing or what, stipulation a £40,000 mortgage. what would you do?
lb40k is not a big mortgage. If you've get a couple of grand to contribute to a deposit, you should be able to attain a mortgage. I wish I only needed a...