Do you really know who owns your mortgage

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So who holds the title to your house? Every month you have to pay your mortgage to some anonymous bank or lender. This is the payment that you promised to make each month in exchange for the privilege of being able to buy your house or condominium. What most home owners don’t know is that they don’t really owe anything to that specific lender that they send thousands of dollars to each month. In reality, that company never actually loaned you any money for your home. In truth, that big bank is actually just servicing the “true” investor of your mortgage. The ironic thing is in most cases, you don’t even know who is in point of fact getting your hard earned money.

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Published In: Consumer Protection Updates, Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Michael Goldstein, Phillips Law Offices, LLC | Attorney Advertising

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