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What information is not collected from the servicer in a mortgage loan?
Wiki User
∙ 14y ago
what information is not collected from the servicer in a foreclosure? loan balance, arrearages, interest rate property value or investor
Wiki User
∙ 14y ago
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How do you assume someones existing home loan?
First, contact the owner of the mortgage. If you are interested in the property and want to assume the seller's mortgage, the person who has the mortgage must contact his/her mortgage loan servicer. That person will tell the mortgage loan servicer that a certain party is interested in assuming the loan. The servicer will then allow the interested party to contact them. The servicer, for example Wells Fargo, Citi, etc will send an assumption package to the interested party. It will usually involve a credit check and application to insure that the person that wants to take over the mortgage can qualify to make the payments. The mortgage loan servicer will then underwrite the application to the appropriate loan guidelines and ,if approved, then both parties would close the real estate contract. The buyer would assume the mortgage and the seller would be released of liability by the mortgage loan servicer.
Where can one find the current status and information of your home loan?
One can find the current status and information regarding ones home loan by contacting their lender or loan servicer by telephone on their mortgage statement. Determining who owns the mortgage is crucial in obtaining information.
Which companies offer mortgage loan modification?
"Every mortgage lender or mortgage servicer offers mortgage loan modification. There are also many third party companies that offer mortgage loan modification, but work with them at your own risk."
Who holds the promissory note to my house when MERS takes over?
If your loan has been registered with the MERS System (Mortgage Electronic Registration System) you need to call (888) 679-6377 to find out who is your "servicer" of the loan.Your servicer is responsible for handling any/all questions about your mortgage loan. Your servicer is also responsible for collecting any/all payments.Your servicer, not the investor, is the only part who can negotiate terms of your loan with you.
How do you know who owns your mortgage?
Fannie Mae and Freddie Mac own a majority of mortgages in the U.S. Most mortgages have a servicer and an investor, which is why many homeowners can be confused about who actually owns their loan. The servicer is probably who you are most familiar with. A loan servicer is who you send your monthly payment to and who you receive your statement from. The servicer Your servicer, though, does not own your loan, they just do administrative work for the investor. The investor is the actual note holder are the one that truly owns your loan. More than likely, though, either Fannie Mae or Freddie Mac is the investor on your loan, as they own roughly 90% of the residential mortgages. To figure out if either Fannie Mae or Freddie Mac owns your loan, you can visit their website and verify some information with them about your mortgage. To determine if Fannie Mae owns your loan, visit their website in the related links. To determine if Freddie Mac owns your loans, visit their website in the related links Finally, there are some credit unions and mortgage companies that hold on to the mortgages for the life of the loan. If that is the case, whoever you originally did your mortgage through is the investor on the loan.
You have not received any information on how your mortgage account will be handled since HSBC has decided to move out of the US Will you be charged extra fees by them to collect payments on this loan?
You are always responsible for making payments on your mortgage. If you do not have current servicer informtion, pay the last known servicer, and keep your back up. If you don't, you will likely be charged a late fee.
Is the loan balance collected from the servicer in a foreclosure?
In a foreclosure the proceeds from the sale go to the servicer, who in turn remits those funds (minus any costs and fees owed to the servicer and its affiliates) to the investor on the loan (lender or agency). If there is a deficiency, the difference may be written off and a 1099c issued to the debtor, effectively ending the matter, or if legally allowable the lender may pursue the debtor through a collection agency or the courts.
How can someone apply for a mortgage loan?
Someone can apply for a mortgage loan by going to the Realtor website. The website has information on how people including those with bad credit can apply for a mortgage loan.
How can you find more information about a second home mortgage loan?
One can find information about a second home mortgage loan by contacting one's local mortgage company. Another option would be to read financing and mortgage blogs/websites.
What independent sources of information are available for someone seeking mortgage loan help?
Some independent sources of information that are available for someone seeking mortgage loan help are "Citizen's Information" and "Mortgage Banker". Both have unbiased advice from industry experts.
Where is the Everhome Mortgage company located?
The Everhome Mortgage company is located in Jacksonville, Florida. It is a leading mortgage servicer nationwide. In addition to loan servicing, customers can get financing for new loans through EverBank home lending division which includes fixed-rate mortgages, ARMs and more.
Where can one find information regarding eloan mortgage rates?
E-Loan has a site which will provide more information regarding E-Loan mortgage rates. There are tools and calculators available which will help determine length of mortgages, as well as information on their mortgage rates.
