OK so I haven't even made my 1st mortgage payment and my loan has already been transferred....

I received a letter in the mail that my mortgage had been transferred and that I should mail the pmt to an address in Arizona. It is due on 8/1. This morning, just to make sure, I called the orginal mort. co. and they said yes it has been transferred, go ahead and mail it to AZ. Just to be certain, I called the new company. They don't even have me in their system yet and said if i had mailed it to AZ it would have gotten lost and they haven't even assigned me an account # yet! The customer service person told me I have up to 60 days to make my payment because of the transfer. Has anyone ever heard of this or had this happen?

eta: oh and by the way the actual pmt address is in Kentucky not Arizona Hello 3000 miles away LOL AND we had 2 inches of water in the basement last night aaaaaaahhhhh i love being a home owner!!!

Yikes. Whos your original mortgage company?

---

Posted by Valentinegirl

Yikes. Whos your original mortgage company?

---

First Mutual in NJ. They were shady from day one but seemed to redeem themselves. P*sses me off!

I hope everything works out!!!

our mortgage was signed over to a new company AT our CLOSING!!!!!
My lawyer said it happens all the time, but he'd never seen it done at the actual closing.
I wasn't too upset - I hated dealing with the original company, so it was fine by me!!
good luck!

I am actually glad that my bank didn't transfer my mortgage. I have Chase and I actually don't mind them (went through a broker too).

But then again, Chase is a huge bank and I would imagine that the mortgage transfers usually happen with the smaller banks.

---

Posted by palebride

our mortgage was signed over to a new company AT our CLOSING!!!!!
My lawyer said it happens all the time, but he'd never seen it done at the actual closing.
I wasn't too upset - I hated dealing with the original company, so it was fine by me!!
good luck!

---

Same here, and i really love my new company so it worked out.

When I had the co-op, my mortgage transferred after 3 months & I had Bank of NY originally. When I refinanced w/ Chase, it never transferred after that.

I'm sorry Jen! Hang in there, it'll be ok.

Yikes to the water!!!! Is that going to happen every time it rains? Is there anything you guys can do to prevent that?

My mortgage was sold twice before i even made my first payment - it is normal!


And since misery loves company - I had about an inch of water in my basement the other day too - problem solved now - but what a pain!!!!

---

Posted by mv1003

When I had the co-op, my mortgage transferred after 3 months & I had Bank of NY originally. When I refinanced w/ Chase, it never transferred after that.

I'm sorry Jen! Hang in there, it'll be ok.

Yikes to the water!!!! Is that going to happen every time it rains? Is there anything you guys can do to prevent that?

---

thanks

tom borrowed a wet-vac from work and vaccuumed all the water up. we have to figure out the source, bc the basement windows were not wet at all!