Question. Our mortgage has been with the same lender for several years. Recently, we received a letter from a new lender advising us that we are immediately to start making our mortgage payments to this new company. Should this be a concern to us? Can the new lender change any of the terms or conditions of our existing loan? How do we know for sure that the new lender is in fact legitimate?
Sales of existing single-family homes held steady last month, setting a pace that was the fourth highest on record, according to the National Association of Realtors®.
In California earlier this month, local police said a 79-year-old Los Altos woman was scammed out of more than a quarter million dollars. She acquired $250,000 through an equity loan on her home after repeated telephone calls from a grifter in Canada persuaded her to invest in bogus New York real estate. Money in hand, the faux financial consultant never called back.