Anonymous
Anonymous asked in Business & FinanceRenting & Real Estate · 1 month ago

My mortgage is being transferred to another company. What does this mean?

9 Answers

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  • Susie
    Lv 7
    1 month ago
    Favorite Answer

    Nothing.  Mortgages are bought and sold on a regular basis.  The payment will be sent to the new owner.  You will probably be sent a new payment booklet and/or instructions if you need to change any payment procedure. 

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  • not at all in my opinion

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  • 1 month ago

    Everything stays the same, but you now pay the new company instead of the old company

    You'll get letters to confirm exactly what this means for you, and what changes

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  • 1 month ago

    It means you still have to pay the same amount, by the same due date, but now you pay it to a different company.

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  • Judy
    Lv 7
    1 month ago

    Very common. All it means for you is you'll make your payments to the new company. The terms of the mortgage will stay the same.

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  • 1 month ago

    It just means you pay the mortgage to someone else.

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  • 1 month ago

    you pay a different bank...nothing else....current sold it to another bank

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  • 1 month ago

    You will just pay the same amount to the new holder.

    My first mortgage was sold before I even made the first payment.

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  • 1 month ago

    It is not being transferred to another company. Another company bought your mortgage. So you owe the new company now.

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