Re: What can Lender Do

Posted by steele in minnesota on December 08, 2007 at 17:44:26: In Reply to: What can Lender Do posted by Suzy on December 07, 2007 at 05:33:55: Mortgages are regularly packaged in groupings and sold to other parties. Many times the original lender will continue to "service" the loan and collect the payments for the new owner.

Long story short, if one doesn't pay one can get foreclosed upon. Now, I am simplifying things a bit but proper notices will go out a foreclosure can and will happen.

Sounds like you have a particular situation in mind. Please share it with us so we can better comment on this one.

Steele
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