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If I could offer any advice it would be for you to read EVERY WORD in your mortgage contract. If you see anything about your lender having the right to sell your contract to another party or that party reserving the right to demand payment in full, at any time, be prepared. I got involved in a case where that happened and the person had never been late one day on the payments. She was in the military and I was taking care of her business until she completed her tour of duty. I almost blew a gasket when she received a letter from the new trustee demanding payment IN FULL. I took the original mortgage contract and marched right into the bank President's office and had a shootout at the OK Corral. I told him she had signed only ONE contract and she was bound by it only and that's how it would be. I told him that he had opted to sell her contract and what he and the other trustee agreed upon was his problem not hers. My parting shot was, "You made this mess, now call the people you sold the contract to and clean it up." I walked out the door and went home; within 2 hours the last mortgage holder called and said there had been a terrible mistake; demand for payment in full had been withdrawn and she should follow the stipulations set forth in the original contract.Originally Posted by DJD
