Legal Question in Real Estate Law in Florida
my orginal morgtage was with Countrywide which Bank of America now has and they are changing my loan and i told them it cant be modified that way and they said they dont have the orginal loan documents and i said i do can they elimimnate my intrest only payment when my orginal doent state that
1 Answer from Attorneys
The terms of your mortgage cannot be changed, but the ownership of the note (the party that you make payments to) can change. The note can be assigned to a new company, and you will have to make the payments in accordance with the original terms of your loan. The new servicing lender will not and cannot change your interest only payment, if that is what the terms of the loan include. If you are convinced that BoA is changing your loan, take your mortgage and note to a real estate attorney to protect your legal interests.
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