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So I've experienced this once before, my original loan was sold to Countrywide which became BOA. I'm not the biggest BOA fan, but they have never gave me any problems with the mortgage, and their online payment setup is really user friendly. So I got the letter today that it's being sold to Nationstar Mortgage. A quick search out of curiosity brought up a avalanche of negative comments about this company. I'm kinda bummed out.
So, two questions, anything I can do (I doubt there is)? And has anyone heard of this company or dealt with them and have anything positive to say about them to ease my fears? Thanks.
It doesn't matter who holds your mortgage. The new co. cannot change anything about it and you don't need to worry over it. All my mortgages have been sold to others. Its a common occurence.
I will say one positive about them. If you have to do a short sale, they use the Equator.com system, which makes them one of the more efficient companies for dealing with that. But as long as you intend to keep paying your mortgage, what the others said is true. The only thing that changes is where you send your payment.
Nationstar is a large mortgage company. Keep in mind that with any large company, you are going to find a large number of complaints because they have a large number of customers. They could have 95% happy customers, but 5% of a large number is also a pretty big number. They are large enough that I bet they have a way to pay your mortgage online as well.
I know most people do have their mortgages sold at some point. Wells Fargo seems to be in the minority there. Everyone I know who has a WF mortgage has had it stay there, they don't seem to sell theirs off as much as others do. My loan has been there for 8 years, and my parents have had some on rentals that have been there much longer.
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