Comments on: Why cant i buy my mortgage from the bank at the same rate as the buyer that acquires it? http://www.mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it A blog on mortgage loans Wed, 08 Feb 2012 23:43:50 +0000 http://wordpress.org/?v=2.7 hourly 1 By: AllCourt http://www.mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/comment-page-1#comment-1230 AllCourt Wed, 03 Jun 2009 00:49:13 +0000 http://mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/#comment-1230 <a href="">Darlene</a> Good question. Many mortgages are sold in "bundles", which is how Freddie Mac/Fannie Mae got into trouble - when these bundled, securitized loans started defaulting and blowing up the whole "package". However, some banks simply have a policy on not selling loans to individuals. I tried contacting Chase Bank on behalf of a borrower who was facing tax sale foreclosure to see if I could buy the bank's note since they were looking at losing their entire interest if the tax sale foreclosure finished. When I finally got through to someone at Chase, they said they no longer sold mortgages to individuals...but that may have just been the position of the person I spoke to - not the "official" position. Darlene

Good question. Many mortgages are sold in “bundles”, which is how Freddie Mac/Fannie Mae got into trouble - when these bundled, securitized loans started defaulting and blowing up the whole “package”. However, some banks simply have a policy on not selling loans to individuals. I tried contacting Chase Bank on behalf of a borrower who was facing tax sale foreclosure to see if I could buy the bank’s note since they were looking at losing their entire interest if the tax sale foreclosure finished.

When I finally got through to someone at Chase, they said they no longer sold mortgages to individuals…but that may have just been the position of the person I spoke to - not the “official” position.

]]> By: Qpid59 http://www.mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/comment-page-1#comment-1229 Qpid59 Mon, 01 Jun 2009 11:45:42 +0000 http://mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/#comment-1229 <a href="">Judy</a> Can you elaborate a bit more? The question doesn't make a lot of sense. Judy

Can you elaborate a bit more? The question doesn’t make a lot of sense.

]]> By: ananamas http://www.mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/comment-page-1#comment-1228 ananamas Fri, 29 May 2009 20:17:25 +0000 http://mortgage--loans--blog.com/mortgage-loans/why-cant-i-buy-my-mortgage-from-the-bank-at-the-same-rate-as-the-buyer-that-acquires-it/#comment-1228 <a href="">Corey</a> Because you don't have enough money to buy the whole mortgage, or else you would just pay it off! Corey

Because you don’t have enough money to buy the whole mortgage, or else you would just pay it off!

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