Personal Finance (Not Investing) • Help me understand how I should make my mortgage payment (to new servicer that purchased mortgage)

I would send the August check to the old address/name/etc., IF you have not received a new mailing address.

They will have to pass along such payments "to the new place".

It can get confusing for a while (no thanks to these lenders unhelp), but at least you'll have made your payments on time.
Can you do it with some proof of delivery service?

I had this happen years ago, and NEVER received any notification.
For many months, I kept sending my payments "same as the previous years", and I came home one day to find... a "foreclosure" sign on my door!
NO one had contacted me in any way. and my checks were always cashed right on time.

It turned out this had happened to most of those with mortgages at the old place, and it was quite a mess, including from some agencies, given the number of people involved.

However, I remember clearly that all who had been making payments on time and had checks cashed, would not suffer any type of penalty ("duh"!).

I don't know if the first lender was illicitly using that stash of cash or what...

RM

Statistics: Posted by ResearchMed — Fri Jul 26, 2024 8:30 am — Replies 4 — Views 413

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