My mortgage for my first home has been sold a second time. The first company that bought it was Saxon Mortgage Services and they just sold our mortgage to RCS (Residential Credit Solutions). Both companies are located in Ft. Worth Texas and both are debt collection agencies who employ debt collection practices when servicing our mortgage. And when researching RCS I discovered that RCS is a Federal Loan Modification Company approved by our Government to help people modify their mortgages. After reading over 150 complaints about deceptive practices I became nervous about this service company
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This is a mortgage sale that I was not privy to until after the fact, our loan is not only current, but we pay extra each month to bring down the principal. We intentionally bought a home with a payment that costs us only 15.7% of our monthly income
That's great that your paying down the debt, but again your mortgage may be bought or sold a dozen times. They don't need your permission because it doesn't impact you. It's like if the car dealership you bought your car from gets sold. Who cares..