Your Source for Today’s Latest Information on Modification, Foreclosure, Refinance and More
Today’s internet mortgage marketplace is like a mine field. Make the wrong move and you could waste hundreds or thousands of dollars and weeks or months of precious time. AboutYourMortgage is committed to educating consumers on how to navigate their way safely through this marketplace by providing unbiased mortgage information and helpful links.
Your Rights and Your Mortgage Servicer’s Responsibilities
When you apply for a home mortgage, you may think that the lender, or loan originator, will service the loan until it is paid off or your house is sold. However, in today’s market mortgage servicing rights often are bought and sold. The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute. Sections 6 and 10 of RESPA provide you with certain rights regarding the servicing of your mortgage and escrow account. Please read this important information concerning your rights and the responsibility of your loan servicer. Learn More
Don’t be a victim of a loan modification or foreclosure scam
- If any organization or persons ask you to pay a fee for housing counseling services or loan modification beware, DO NOT PAY
- Never sign over or transfer the deed to your property to anyone or any organization even if they say they can “save” your home. Always work directly with your mortgage servicer.Always submit your mortgage payments to your mortgage servicer, unless they specifically tell you to send them elsewhere. Beware of people saying they will submit your payments for you.
