tag:blogger.com,1999:blog-6787157690355329112.post1738711205197351850..comments2024-03-13T08:03:38.906-07:00Comments on Frugal Freedom: I've Been SoldUnknownnoreply@blogger.comBlogger4125tag:blogger.com,1999:blog-6787157690355329112.post-2275069270140004812012-04-30T22:25:41.751-07:002012-04-30T22:25:41.751-07:00Frugal Miser, the funny thing is that my last mort...Frugal Miser, the funny thing is that my last mortgage was sold to Chase, that's how I ended up there and why I picked them for my mortgage originator. At least I can still pay through them.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-83932271991250573242012-04-30T22:24:21.002-07:002012-04-30T22:24:21.002-07:00Sold 3 times Dave! How good that you paid it off....Sold 3 times Dave! How good that you paid it off. Who knows how many more times you would have been sold off. Your friend must have a very popular mortgage to get sold so fast. Mine is so small they probably had to pay Fannie Mae to take it.Daizyhttps://www.blogger.com/profile/08075279944974601962noreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-62304996302082876152012-04-30T06:35:18.045-07:002012-04-30T06:35:18.045-07:00Every mortgage I've had has been sold. This i...Every mortgage I've had has been sold. This is common. Basically, Chase doesn't want to tie up their own cash in your home, so they sell it to someone else and use the money to make more mortgages. In your case they will continue to manage the mortgage for Fannie Mae.My Frugal Miserhttp://www.myfrugalmiser.comnoreply@blogger.comtag:blogger.com,1999:blog-6787157690355329112.post-9130471547883357472012-04-30T06:17:46.589-07:002012-04-30T06:17:46.589-07:00My old mortgage changed hands several times way ba...My old mortgage changed hands several times way back when. The first time my bank went bankrupt and got taken over by the Resolution Trust Company (established in 1989 in the wake of the 1980s S&L scandal). I still wrote the check every month to the same old mortgage holder, though. (Back then, automatic payments were very rare.)<br /><br />Later, the RTC sold my mortgage to a new mortgage company which was good because I soon did a refi and that would have probably been messier had the RTC still been holding it.<br /><br />Five years later, the mortgage company I did the refi with (and it was a bit of an ordeal) sold what little was left of the mortgage to another mortgage company. By then, I had set up automatic payment so I had to set it up again. Not a big deal. Six months later, I paid it off.<br /><br />And my friend who just bought a co-op apartment (I have mentioned his story to you before) had his mortgage sold from one bank to another in the first month he took out the loan. So he got you beat LOL!Davehttps://www.blogger.com/profile/05503978839912338538noreply@blogger.com