Question by Sad Wendy: How can I change my mortgage company?
My mortgage was recently sold to a new company. Their services are poor and refused to give me a principle-reduction modification. I have a 30 yr fixed rate loan. I’m up-side-down so refinance may not be a choice. Is it still possible for me to get another loan servicing company?
Best answer:
Answer by ET
Not likely you will get another servicing company without refinancing.
Know better? Leave your own answer in the comments!
The only way you can is if you refinance with a new company, or if your current company decides to sell your mortgage to another company (you can’t force them to).
There are only two ways you’ll be able to get another servicing company – you either refinance, or hope that your current servicer sells your loan to another one.
If you really hate your current servicer, then try to refinance. You may not be able to but it won’t hurt to try. Failing that, call and ask them for better service. Tell them what they’re doing that ticks you off and ask them to fix it. It sounds like you may just be upset that they wouldn’t give you the reduction modification though. If that’s the case, you may be out of luck.