A “your mortgage was transferred” letter can make a homeowner wonder whether the whole loan just changed.
The company collecting the payment may change. The loan terms do not automatically reset because a new servicer takes over.
When a mortgage servicer changes:
Read the transfer notice carefully
Confirm the effective date
Verify the new payment address through official channels
Update autopay only after confirming the information
Keep both the old and new notices
Save this for later.
Send it to someone who needs to see this.
— Richard Sarey, your go-to independent mortgage broker in Frisco Texas
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