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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 12554
Experience:  I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Our loans (BofA) were sold to a loan servicing company (Nationstar)

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Our loans (BofA) were sold to a loan servicing company (Nationstar) on 7/1/13. We sent payment (2 separate checks for 2 properties via USPS overnight) which the new company has not cashed. Their website is now saying we will have penalties after 7/16 if payment is not received - should I cancel the checks and try to do an online payment (which was not available prior to 7/6) or wait and 'see what happens'....

Hi, My name is XXXXX XXXXX I will be glad to assist you today,

 

 

Did Bank of America inform you in writing that your loan had been sold ? I am asking that because most lenders use "servicing companies" for their loans without selling them.

 

If I were in your position, I would make every attempt to get in touch with Bank of America and tell them that you are not getting a response from their servicing company and depending on what they say, I would make an online payment anyway within the next day or so (well before the 16th) and cancel the check you have already sent. I say that you should cancel the check you already sent because you will have just as much trouble trying to reach someone and ask for a credit for the extra payment. So, I think you would be better off just putting a stop payment on the check you already sent, but do that only after you are certain that your online payment has been credited to your account,

 

_________________________________________________________________

 

Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,

 

Bonus and Positive Feedback on survey is very much appreciated,

 

ANDREA

 

 

Andrea, Esq. and 7 other Real Estate Law Specialists are ready to help you
Customer: replied 4 years ago.

Hi Andrea:


Yes, BofA notified us of the transfer on 6/16/13 - the initial information we received from Nationstar was to mail payments to a PO Box in Texas. Which we did.

In that case, I would do an online payment and when you see that the payment has been credited to your account, stop payment on the first check which they claim they have not received,

 

_____________________________________________________________________

 

Please be kind enough to rate Excellent Service" so that I receive credit for assisting you,

 

Bonus and Positive Feedback on survey is very much appreciated,

 

ANDREA