I just got a letter from them yesterday telling me one of my mortgages (on an investment property) had been transfered (to a company in IL). I called the new company to get my new acct# so I could schedule my November payment. I asked about another BofA mortgage I have on another property and was told perhaps in another batch of 100K mortgages they’re transferring over in December. She also said they’re all “primary lien” mortgages (whatever that means).
“She also said they’re all She also said they’re all “primary lien” mortgages (whatever that means).”
“primary lien” mortgages. First in line to recoup if you default on loan. Make sure you check your county recorders office and find out if they followed state laws on property liens.