.Soooo...you have your mortgage with Ditech and you are confused about the mail you are getting ? Some of our Buyers called this week unsure what they should do. Ditech has filed for bankruptcy for the second time in 14 months. No...it doesn't mean that you don't owe your mortgage...sorry. From time to time...Mortgage companies go out of business and can't be "saved" by Bankruptcy.
Continue to pay your mortgage ...and a new company will purchase your mortage under the same terms you had with Ditech.
Some of the mortgages may have been intiated directly by the borrower while others may have been the lender that a morgage banker sold the mortgage to at some point.
Your payments are safe....and the mortgage will continue with another lender unril it is paid in full.
This has been a informative financial post brought to you by Sally K. & David L. Hanson, Broker Associates with EXP Realty honored to be serving southeastern Wisconsin for all things real estate.