Friday, November 27, 2009

Sold Mortgage

Our mortgage has been sold. We haven't even had the house a month and our mortgage is now in another companies hands. This seems a bit rediculous, especially considering that this practice is one of the reasons why the housing market down turned. In all honesty, I wouldn't care if our original mortgage company hadn't made us jump through so many hoops to get our mortgage. I'm happy that the terms cannot be changed when the mortgage is sold. It vexes me that it was sold so quickly. If this had happened six months from now I could possibly understand, but now. What is going on with the banking industry that they would sell a mortgage less than a month after it was issued? If they didn't want our business, the bank could have directed us to the company that bought our mortgage.

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