Will anything happen to my mortgage since WaMu failed and sold?

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We have a home loan through WaMu that was just adjusted to a lower payment and rate (I know that is one in a million) Will anything change with it now that the bank has sold?

  1. Reply
    February 24, 2011 at 3:46 am

    Nothing changes. You still owe the money.

  2. Reply
    February 24, 2011 at 3:57 am

    Continue making the payments to the place you have been making the payments too. That place now belongs to J.P. Morgan Chase Bank, the new purchaser of Wa Mu.

    Most likely at some point in the future, it will be combined with existing J.P. Morgan Chase bank services and you will receive a letter from J.P. Morgan Chase telling you where to mail your mortgage payment too.

  3. Reply
    I Buy And Sell Houses
    February 24, 2011 at 4:25 am

    Nothing changes.

    I, too, have a mortgage through WaMu. And, like you, my rate declined at the last adjustment (in July), down from 7.375% to 5.375%. Nice feeling!

    But, no. Nothing will change. Sooner or later, we might be asked to send payment to another address. That’s all.

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