Comments on: My Lender Is in Trouble. Am I? http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/ Mortgage Credit Problems: Helping You Find a Home Loan with Bad Credit Wed, 07 Jan 2009 10:04:49 +0000 http://wordpress.org/?v=2.3.2 By: Gina Pogol http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-77 Gina Pogol Mon, 14 Jul 2008 20:15:02 +0000 http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-77 Funny, after this came out Indymac bank was shut down by regulators. This is the second largest bank failure in US history, and officials have hastened to assure customers that they will be taken care of. Stay tuned.... Funny, after this came out Indymac bank was shut down by regulators. This is the second largest bank failure in US history, and officials have hastened to assure customers that they will be taken care of. Stay tuned….

]]> By: Gina Pogol http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-75 Gina Pogol Thu, 10 Jul 2008 00:00:57 +0000 http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-75 You shouldn't be. Your old lender should have notified you of the change at least 15 days prior to your due date, and federal law prohibits lenders from considering your payments delinquent for 60 days after the loan has been sold. This allows you ample time to verify with your old lender that you have a new servicer. You shouldn’t be. Your old lender should have notified you of the change at least 15 days prior to your due date, and federal law prohibits lenders from considering your payments delinquent for 60 days after the loan has been sold. This allows you ample time to verify with your old lender that you have a new servicer.

]]> By: Alan http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-74 Alan Wed, 09 Jul 2008 22:57:57 +0000 http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-74 What if you continue to send your payment in to your old lender, to the old address? If it has to be forwarded, it may be late. Will you be charged late fees in this type of circumstance? What if you continue to send your payment in to your old lender, to the old address? If it has to be forwarded, it may be late. Will you be charged late fees in this type of circumstance?

]]> By: Jan http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-73 Jan Wed, 09 Jul 2008 22:52:16 +0000 http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-73 Great thanks, it's good to know that the Gov steps in so hopefully people don't get defrauded themselves. Good post! Great thanks, it’s good to know that the Gov steps in so hopefully people don’t get defrauded themselves.

Good post!

]]> By: Gina Pogol http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-72 Gina Pogol Wed, 09 Jul 2008 22:42:19 +0000 http://www.mortgagecreditproblems.com/blog/my-lender-is-in-trouble-am-i/#comment-72 This just happened in Reno as a matter of fact. The State of Nevada shut down a lender called Cetus Mortgage. In this case the lender defrauded its investors, not its borrowers. What normally happens in these cases is the government steps in, takes over the institution, and oversees the sale of the portfolio of loans to other lenders. So, keep making your payments and look for notices that tell you when your loan has been transferred to the new company. This just happened in Reno as a matter of fact. The State of Nevada shut down a lender called Cetus Mortgage. In this case the lender defrauded its investors, not its borrowers. What normally happens in these cases is the government steps in, takes over the institution, and oversees the sale of the portfolio of loans to other lenders. So, keep making your payments and look for notices that tell you when your loan has been transferred to the new company.

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