There are three reasons why you must always keep track of the identity of your Servicer:
1. Your Servicer is responsible for handling any questions you have about your mortgage loan. Payoff amount? Contact them. Taxes and hazard insurance? They should have that information too.
2. Your Servicer is also responsible for collecting your payment. To avoid late fees and potential fraud, make sure you are sending your payment to the correct Servicer.
3. If you are unable to make the payments on your mortgage and wish to negotiate the terms of your Loan, you may only do so with your Servicer. Contrary to popular belief, it is your Servicer and not the lender that can negotiate the terms of the loan with you.
So who’s your servicer? In upcoming blogs, and through links posted on our website, www.whoownsmymtg.com we’ll show you exactly how.