Mortgage Loans

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Established Contributor
Breakthecycle2
Posts: 785
Registered: ‎09-15-2008

Question for the Mortgage guys

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‎10-21-2010 08:25 AM

We JUST closed a month ago on our home and moved in last week. We have an FHA backed loan and haven't even made a payment on it yet. Yesterday, we notice that our current mortgage company sold it already to BOA. Why would this happen already? I HATE BOA...lol

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Senior Contributor
mickie08
Posts: 3,299
Registered: ‎04-22-2008

Re: Question for the Mortgage guys

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‎10-21-2010 08:59 AM

that is about par for the course.  They do this because they need the funds back to fund the next loan and so on.

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Breakthecycle2
Posts: 785
Registered: ‎09-15-2008

Re: Question for the Mortgage guys

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‎10-21-2010 09:42 AM

Nice. I thought so. Thanks!

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