Can I stop my mortgage from being transferred?
No, you do not have the ability to stop your mortgage from being sold. If your mortgage is sold, the loan terms don’t change. The new servicer collects your payments. You have 60 days to send payments to the old servicer.
Why does my mortgage keep getting sold?
Lenders typically sell loans to free up capital that can be used to make loans to other borrowers.
Will a transfer affect my credit score?
A transfer or sale of your mortgage loan should not affect your credit score.
Is there a grace period when your mortgage is sold?
There’s a 60-day grace period after your mortgage is transferred.
What if I don’t receive any notices about a transfer?
If your lender or servicer changed and you weren’t notified, you can file a complaint online with the Consumer Financial Protection Bureau.
Can I take over the mortgage on an inherited house?
To take over the mortgage on an inherited house, first talk to the servicer and let them know you inherited the property.
How do I keep my mortgage from being sold?
You can’t stop your mortgage from being sold. Most mortgages are sold to Fannie Mae, Freddie Mac or Ginnie Mae. Refinancing with another lender is an option if you don’t want your mortgage sold again. Selling a home with a mortgage is usually not a problem if you are in good standing.