Saturday, March 1, 2014

Can a mortgage company (bank) sell my loan to a debt collector? I mean "sell", not for debt collection purpose, because my history is extrem...

Question

Can a mortgage company (bank) sell my loan to a debt collector? I mean "sell", not for debt collection purpose, because my history is extremely good regarding on-time payments, and I feel uncomfortable to deal with a debt collector and believe it can hurt my credibility in future when applying for new loans. Thank you.



Answer

Unless there is some provision in your mortgage which would prohibit

such a reassignment, I know of no reason why not.



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