Who is the investor on my loan?

 

Freddie Mac and Fannie Mae Backed Loans
Want to know who TRULY holds your mortgage? Who you make your payments to is not typically the person who owns your loan! Ask your servicer, the person who collects your payment, who the investor on your loan is!

Did you know that who your mortgage servicer is may not be as important as WHO the mortgage holder is? For example your loan may be serviced by Bank of America or Wells Fargo, but the owner of the mortgage maybe Fannie Mae or Freddie Mac. If your loan is owned by Fannie Mae or Freddie Mac you may be at higher risk of foreclosure than someone who’s loan is owned and serviced by a private investor.

Wondering if your loan is Fannie Mae, check out Fannie Mae Loan Finder OR Freddie Mac or Freddie Mac Loan Finder

Even if you have a current approval on a short sale serviced by Bank of America or any of the other large servicing banks, but the mortgage holder is Fannie or Freddie, if you have a pending foreclosure sale date you are at risk of foreclosure. Be very aware of what’s going on with your Short Sale. Postponements use to be handed out willingly by servicers in an attempt to close the current contract. However in the last 30 days, I’ve had three files with short sales approved, approval in hand, where the servicing banks told me no postponements would not be granted. Be sure to check on your foreclosure sale date, having the settlement letter does not ensure postponement.

One file had to be closed in 6 days, thank god for a cash buyer! There are always exceptions to the rule, but not knowing the truth about your Trustee Sale Date, can lead to definite foreclosure.  Want to find out if your home loan is held by Fannie Mae or Freddie Mac? Give me a call (916)230-3880 or email JK@RosevilleAndRocklin.com. Time is running out on debt forgiveness… call me today for an estimate to get your home sold!!!

Roseville and Rocklin Real Estate

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