I found out a couple of weeks ago that my mortgage servicer had been raided by the governemnt and immediately ceased all operations. I only found out about this when I logged into my mortgage account and read a cryptic posting there. I saw no mention of this elsewhere, and this compnay was the twelfth largest servicer in the country.
Finally, yesterday the company released info about what their current mortgage-holders should do with their upcoming payments. Undoubtedly, many of their customers know nothing about this change, and will send their payments to the wrong address, or not have their payment electronically drafted. Let's hope the new servicers do the right thing with waiving late fees.
1 comments:
Wow, that's a scary thing to find out! I hope that the other home owners don't lose any good credit ratings because of this.
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