Who Owns Your Mortgage?
Filed Under Blog · Tagged: Mortgage Loans, Portland Realtor, Vancouver Realtor
Do you know who really owns your mortgage? Even you are not in danger of foreclosure. Why? Because someday when you decide to sell your property, you will need a complete and clear title report. If you are in danger of foreclosure, then this is absolute must.
How do you know? Contact your mortgage servicing company to find out whether your mortgage has been bundled and sold? Get get a clear answer and request a copy of your mortgage paperwork to back it up.
Believe it or not many banks cannot find the documents on many properties proving Mortgage ownership. What is amazing is the banks are actually having messing documents forged so their ownership is documented. These are not small banks, but very well known large lending institutions. For further information watch the segment of 60 minutes at http://www.cbsnews.com/stories/2011/04/01/60minutes/main20049646.shtml?tag=contentMain;contentBody.
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