Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Mortgage Brokers & Lenders
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 2 years ago on . Most recent reply

User Stats

22
Posts
9
Votes
Jonathan Buelow
  • Rental Property Investor
  • Wisconsin
9
Votes |
22
Posts

Keeping the loan but changing lenders

Jonathan Buelow
  • Rental Property Investor
  • Wisconsin
Posted

When I purchased my rental property I used one company but they have pushed us off to another one. After 8 months I have had to deal with numerous incompetent people and can't stand it anymore. Is there a way to find another mortgage company to "assume our loan" (not sure if that is the correct term) I am not looking to refinance, just find a more competent company.

  • Jonathan Buelow
  • Most Popular Reply

    User Stats

    1,836
    Posts
    2,065
    Votes
    Jeff Copeland
    • Real Estate Agent
    • Tampa Bay/St Petersburg, FL
    2,065
    Votes |
    1,836
    Posts
    Jeff Copeland
    • Real Estate Agent
    • Tampa Bay/St Petersburg, FL
    Replied

    A large percentage (90%+) of conventional, FHA, and VA loans get sold in the secondary market 6-12 months after origination. This is why Fannie Mae and Freddie Mac exist. It's typical and happens almost every time.

    Like @Nathan Grabau said, your servicer simply collects your payments and manages your escrow account for taxes and insurance. It isn't rocket science. Other than updating your payment information and making sure your payments are going to the right place, it's usually not a major change. 

    What are they getting wrong?

    • Jeff Copeland

    Loading replies...