I have a Mortgage ReSet question?

[newportguy]

I have a 4 year Mortgage with a balloon payment at the end with a reset op.   How does this reset work ? Do they open a new account or use the same account #.

Thanks

[DallasLoanGuy]

probably a question for your lender.

i have heard of loans being re-cast.... and they are the same loan so the loan number shouldn't change.

but i don't know your lender or any particulars, so i would suggest you call them.

[newportguy]

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@DallasLoanGuy wrote:

probably a question for your lender.

i have heard of loans being re-cast.... and they are the same loan so the loan number shouldn't change.

but i don't know your lender or any particulars, so i would suggest you call them.

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The loan is with my local Bank .... Thanks for your reply

[newportguy]

I guess what i am asking , will it be the same TL?

[DallasLoanGuy]

should stay as the same tradeline.

but i cannot speak for them

[newportguy]

Thanks again