Prefer to talk in person? Find a mortgage specialist on Zillow
Profile picture for pruneface

I asked for a loan modification and my lender sold my loan. Is this normal and what should I do now

  • May 21 2010 - US
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (3)

Very normal.  Very frustrating.  There is a grace period during transfer so the lenders can transfer information... but don't count on this to be done correctly..... contact the new servicing agent (lender) and find out what is going on with you application.  
  • May 24 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Who was the old lender and who is the new lender ? When did the loan get sold ? And are you making payments to the same servicer, or to the new lender ?
  • May 22 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

It's normal and if you submitted any paperwork for the bank's modification package you will probably need to do it over with the new bank since I have experienced this before with prior clients.  Contact your new lender and what they need for you to be reviewed for a loan modification.  Good Luck!
  • May 21 2010
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.