2nd Mortgage Still Not Sold = No Payment Due?

[asylum23]

What is the name of your state?What is the name of your state?What is the name of your state?NV

Hello, for our mortgage we have 2 loans. During signing we had to sign that it was ok for the company, Americorp, to sell both loans. The higher one is sold and fine. For the lesser one we received a letter about 6 weeks ago saying it was being sold to Countrywide Financial. Well it still hasn't been sold. I've called Americorp numerous times and they say the same thing, it's not sold. So I can't make any payments on it b/c Americorp won't accept the payment. Next week will be when the 2nd mortgage payment should be due and we still have not made a single payment towards this loan.
Is this a common practice? Is there a way to insist Americorp accept the payment for the 2 months? I don't want to get hit w/ any late fees or have a really high bill months down the road. Thanks!

 

[HomeGuru]

What is the name of your state?What is the name of your state?What is the name of your state?NV

Hello, for our mortgage we have 2 loans. During signing we had to sign that it was ok for the company, Americorp, to sell both loans. The higher one is sold and fine. For the lesser one we received a letter about 6 weeks ago saying it was being sold to Countrywide Financial. Well it still hasn't been sold. I've called Americorp numerous times and they say the same thing, it's not sold. So I can't make any payments on it b/c Americorp won't accept the payment. Next week will be when the 2nd mortgage payment should be due and we still have not made a single payment towards this loan.
Is this a common practice? Is there a way to insist Americorp accept the payment for the 2 months? I don't want to get hit w/ any late fees or have a really high bill months down the road. Thanks!

**A: read your mortgage docs and follow it. Which means that you pay up until such time that you receive WRITTEN notice that the loan is sold and to pay another lender. Send your payments via certified rrr mail.

 

[asylum23]

Actually, the letter says it was sold, but it wasn't. It says that the new co., City Wide, would be sending me a payment booklet and instructions, which they've sent me nothing, no address or phone # or anything. When I call Americorp they say it's "in the process of being sold". This is for 6 weeks.