Once mortgage note is sold, the new mortgage note owner assume the legal position you currently hold.
When a mortgage note changes hands, the new owner is required to inform the mortgage payer.
Consumer protection laws require them to provide the name, address and telephone number to the best of their knowledge.
The payer should have no change in the way the payments are structured.
The only change will be the address where the payments are made.
NoteAdvocate is a free platform providing tools and resources designed to equip note sellers through the mortgage note selling process. Submitting a request into our industry leading Mortgage Note Matching Engine, of course, is the Best Way to Sell Your Note.