Quote:
Originally Posted by TiMSport
Quote:
Originally Posted by DenverSteve
Your debt was sold by the bank, probably bundled with many other loans, and purchased by the new lien-holder. As stated above, it's not new and goes on every day. It doesn't change anything. You simply continue to make your payments as before, except to a new lender/debt-servicer.
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Yep. I actually called my bank today to confirm everything and the representative told me there were at least a thousand loans that were sold to Mr. Cooper so she had talked to a very large number of people about this sudden notification. Many of them with similar concerns.
I have to inform my insurance company about this ASAP. |
Just confirming as I'm new to this whole process, but also understand that I was required to present my loan company for the home insurance. So since the loan was sold the insurance company is not automatically informed and it is up to us to do so? Appreciate the help!