0
why is it that you need proof that they own the loan now? Are they reporting something in error? Have they changed your payment terms?
4 months ago
Maryam Rafia
said:
I want to negotiate with the owner of the mortgage to buy my notes. Like a short pay. I was told the first step is to know who really owns the loan and as so many loans have been reassigned to investors.
4 months ago
Ken Crute
said:
@Maryam Rafia the company you send checks to most likely does not own your mortgage but rather acts as the servcing agent. If you deal with the servicer they will communicate to the acutal owner of the note. The owner of the note will set their requirements for negoiations and the servicer will pass them along. You will never deal directly with the note owner unless your loan was a portfolio loan.
If you are under the belief that you can contact the note owner and have them spontaneously lower your mortgage balance out of the kindness of their hearts, I think you are going to be sorely disappointed. In addition, borrowers who do get principle reductions and/or modifications have their credit dramatically impacted for years to come and may not be eligible for other home financing for many years.
I have demanded my mortgage company, which I send checks to, to provide me with proof that they own my loan and gave them 30 days to get back to me with the info. it has been more than 40 days and yet nothing from them. I have never been late on my payments, so now should I stop paying?? should I send my request again? or should I see a lawyer? Please advise.
2 1