Question by Danielle B: If my mortgage company sold my FHA fixed 30-year loan to Bank of America, drug can this hurt me in any way?
I just bought my first house. I found my mortgage company, about it information pills Westar, online through Lendingtree.com. I was pretty happy with them. My first mortgage payment was due 1/1/10, but just to be on the safe side, I set up online bill pay through Bank of America to go out last week, and it cleared my checking account. When I logged into my Bank of America online account today, there was my mortgage showing up with my Bank of America accounts like checking, saving, and credit cards. My statement was on there and it didn’t show the payment I had made to Westar. I chatted with a representative, who said yes, the check cleared, but Bank of America is my servicer, not Westar. I called Westar and they confirmed that they sold my loan to Bank of America. This is the first I heard of it. Westar says they sent me a transfer letter, but I never received it. My rate seems to be the same based on what it says on the Bank of America web site, but I am blocked from accessing my loan documents while they do “research.” I am wondering if there’s anything I need to look out for. I have heard horror stories of people’s loans being sold, but usually those are ARM, not FHA 30 year fixed. Thanks!
David Z: I did not receive a letter from Westar or Bank of America. That’s the problem. I did not know about this until I logged into my Bank of America account this morning. Not the best way to find out.
Best answer:
Answer by wizjp
Happens al the time. YOu’re fine. part of a financial transaction between banks; your rate and term are set, even if you are sending your payment to a different place
What do you think? Answer below!
A couple of great apartment constructing pictures I identified:
Apartments
Image by J. Star
built in 1881. I’ve had to work late every night this week, click and it really is frustrating not to be able to use my camera during daylight hours due to it being nicely past dark by the time I get off work. These days, page I grabbed a couple of fast shots out my workplace window as the sun was setting. This is an apartment developing in downtown Cincinnati.
For far more houses click here…
Flight
Image by Incognita Nom de Plume
Apartment building on the Malecon, check Havana. Cuba
More excellent houses click here…
Apartment Creating
Image by WaterpoloSam
Apartment Creating
For a lot more properties click right here…
You’re lucky you have windows at work! Oh well, atleast we have air! LOL
Great shot J. Love the lighting on this!
Very nice shot!! Beautiful blue shadows! 🙂
Beautiful light.
Fireescapes are always so interesting!
That is a great shot and beautiful building! It’s great you were able to get that shot from your office.
I really love this. I love the lighting. I’m tired or I would type more. Sorry. But really…very strong work
Bren-
Wonderful light & nice texture. Maybe it’s the shadows, but the building doesn’t look to be on a flat plane. It looks to be set further back on the right and progress outward to the left. I’m sure it’s just illusion.
Beautiful decay
Thanks pstapp — tho’ I have to admit I’m rather glad I don’t have to live here… those stairs look terrifying!
I wonder how much the rent is.
Nice post.
Very good article about finance.