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Current Tip

What If Your Loan is Sold To Another Investor

Regardless of who you choose to get your mortgage with, the chances of your loan being sold are pretty good. The sale of your loan is not personal, and while you may be apprehensive about the potential sale there is nothing to fear. The only change you should notice is a different payment address. You may ask "why are you selling my mortgage?" – this article provides a great overview that explains why mortgage loans are sold and the impacts it may have on your payments.

You may also find useful tips by reading What Happens When Your Loan is Sold and Why Do Banks Sell Mortgage Loans. Check out the June Resources for additional articles on managing the unexpected.

 

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Montana Credit Unions for Community Development (or MCUCD) is the award-winning, charitable arm of the Montana Credit Union Network. A state-wide nonprofit organization, MCUCD works together with the state's credit unions to improve the lives and financial independence of all Montanans.