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What does it mean if my loan is sold?

by jonadab294 from Arcadia, Florida. Oct 2nd 2019 Reply


Steven Karp (stevek81)
#9 ranked lender in Rhode Island - 151 contributions

Hi Jon...it only means a new servicer has taken over the loan and you will be making your payments to a new Lender/Servicer.....not to worry...it happens all the time...you should be receiving information on where and when to send your payments to....

Oct 2nd 2019
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Carlos Eliseo (carlos_186_486)
#148 ranked lender in Florida - 17 contributions

No worries. You will be writing your mortgage payment to another servicer. All term remain the same.Carlos Eliseo5610252-1552

Oct 2nd 2019
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,660 contributions

To you? Nothing really. it doesn't change anything about your loan. Everything remains the same, it is simply that you will now make your payments to someone difference. It is very common, and happens all the time.

Oct 7th 2019
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