Issue with new mortgage servicer

[Alex Silang]

So I got a letter in the mail from my old mortgage servicer that they are no longer doing my mortgage. It's changing to a new one Aug 1.

It's already Aug 5. The ACH withdrawal didn't go through. I gave the new servicer a call and they can't find the mortgage. The customer service rep said to wait til Monday.

Unfortunately this is a commercial mortgage so I don't get a 60 day grace period.

Has this happend to anyone before? Any advice?

[Chris Seveney]

This happens all the time and they cannot charge you late fees during this time if they did not take the money You should have received two letters - one from your old servicer noting who the new one is and one from the new with your account info I would call the old and say you didn’t get new servicer info and also let them know when you called the loan has yet to be transferred so can you get an update