I was sold
Written: Dec 21 '99
Pros:Interest didn't change
Cons:Need more info before transaction
To my surprise one day in the mail I received a letter from Countrywide Mortgage. They informed me that they were now my new Mortgage Company on my two apartment buildings. In the letter they explained that nothing would change and my payment would not change or my interest rate. I had no say in this matter of being sold. The only difference is that I now make the two checks out in a different name. I have now learned that this is a common practice in the Mortgage Banking business. It would be nice to inform the public that this is done all the time so when we get the letters that we have been sold we do not panic until we understand the situation.
Recommended: No
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