After the new deed is recorded and I get title insurance…should I then contact the mortgage company and tell them that the statements should now be coming to me?
A. No need for you to contact them about anything. The sellers will have to give the mortgage company that change of address theyll have to sign off on it to authorize the statement mailing address change. The statements will still have the sellers names on them, but theyll come to your address instead. If/When they want to check to see that youre making payments on time, they can do that via phone or the Internet. In the beginning, you should always get a copy of the current mortgage statement from the sellers so that you can verify the payment amount as well as the approximate remaining balance of the loan do this as part of your due diligence.
Related Questions
- What happens when the escrow company or title company discovers a judgment lien or abstract recorded against an obligor who is buying, selling or refinancing a piece of real property?
- After the new deed is recorded and I get title insurance...should I then contact the mortgage company and tell them that the statements should now be coming to me?
- The title company has found a lien on the property. Who should I contact to get the lien released at closing?
