What Can (and Can’t) Mortgage Servicers Do?

Mortgage servicers are organizations that handle the day-to-day administrative tasks associated with mortgage loans. From monthly payment processing to initiating foreclosure proceedings, these companies play a key role in ensuring that mortgages are paid off according to their terms. But what exactly can and can’t mortgage servicers do?

When it comes to collecting payments from borrowers, mortgage servicers have the authority to process payments and apply them towards principal, interest and escrow balances on a loan. They also have the ability to set up auto-payments so that borrowers don’t miss any payments due each month. Furthermore, they can provide information about a loan or modify payment plans when needed.

However, there are some things that mortgage servicers cannot do.

The Law Offices of Omar Zambrano has helped thousands of people and businesses on the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706