-- Search -- Apply Now PreQualification Rate Watch Mortgage Rates Tools Contact Us About Us	You Can Expect Fast, Friendly Service With That Special Touch of Compassion. Let Us Take Care of You and All Your Lending Needs. Nasdaq  2,317.84   +53.62    Dow Jones  11,377.62   +246.54    S&P 500  1,260.75   +26.38 November 18, 2008
	Can my loan be sold? What happens if my lender goes out of business? Back to FAQ's Your loan can be sold at any time. There is a secondary mortgage market in which lenders frequently buy and sell pools of mortgages. This secondary mortgage market results in lower rates for consumers. A lender buying your loan assumes all terms and conditions of the original loan. As a result, the only thing that changes when a loan is sold is to whom you mail your payment. If your loan has been sold, your existing lender will notify you that your loan has been sold, who your new lender is, and where you should send your payments from now on. If your lender goes out of business, you are still obligated to make payments! Typically, loans owned by a lender going out of business are sold to another lender. The lender purchasing your loan is obligated to honor the terms and conditions of the original loan. Therefore, if your lender goes out of business, it makes little difference with regards to your loan payments. In some cases, there may be a gap between the date of your lender's going out of business and the date that a new lender purchases your loan. In such a situation, continue making payments to your old lender until you are asked to make payments to your new lender. 3 EASY Steps to Getting Your Loan STEP 1. Complete our easy step by step prequalification form by telling us about yourself, about your home, and the amount that you request. GET STARTED TODAY! No Cost. No Obligation. STEP 2. Once you have submitted your application. You will be assigned a personal loan consultant who will be your single point of contact for the entire process, all the way through closing. STEP 3. Once your loan is approved, you will be notified by us within 24 to 48 hours.
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