My Mortgage Was Sold, New Servicer Is Horrible I Need Help

[breakthecycle]

My mortgage was sold to Nationstar. I tried to register online with the old loan number, and it wasn't recognized. So now i'm in panic mode because I don't want late payment etc.... Payment was due the 1st, in a letter I received it reads: "Under federal law, during the 60 period following the effective date of the transfer of the loan servicing, a loan payment received by your old servicer on or before its due date may not be treated by the new servicer as late, and a late fee may not be imposed on you."

When I call them I get very vague answers and when I pin them down for a real answer it get's worse. I get the old 60 grace period from them, but I refuse to give my SS# to them over the phone when they ask for it. The company sounds horrible and I have never missed a payment on my mortgage. I offer my old loan number which according to the letter should work but no it's all Greek to them. This sounds like a bottom dweller loan not sure how I ended up with them.

[Anonymous]

Why can't you just pay your old servicer, as the letter stated it wouldn't be late. They should send you information with your new account number at some point.

[coterotie]

Send a real old fashioned paper check from your checking account.  Overnight with a signature verification to the old address/servicer.  After check clears, print item as well as statement.  Scan all items and retain originals.  If necessary do the exact same thing the next month.

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@Anonymous wrote:

Why can't you just pay your old servicer, as the letter stated it wouldn't be late. They should send you information with your new account number at some point.

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[ap84]

Hello,

My mortgage was sold to them last year and I had no issues. Try speaking with a supervisor and they should be able to help you. 

[TimeToRecover]

I agreee with azriel.  I would follow the instructions.  send the payment to your current servicer.  they very well may not have you in their system yet (tied to the old loan number)  your loan number will most likely change in their system.  the 60 days is to let them get the information into their system.  it isn't like flipping a switch and suddenly you are there.

If it were me.  I would send the payment to my current servicer (if it was due on the 1st and you haven't paid it yet you are 1/2 way to that 30 day late flag) keep a copy of the check.

Was there more to the notice other then just what you posted my guess is it says something like "You will be sent instructions on where to send your payments in the future..................."

think of it in a way like when a person gets a new CC.  typically you can't log on and make a payment until you get the card and ativate it.  same sort of thing here you can't pay the new servicer until they have the acount and have activated it in their system.