PA Mortgage Network

TIP: Don't make any adverse changes to your financial "picture" during this time between approval and closing. Innocent mistakes range from applying for a new department store credit card, to purchasing a refrigerator for the new house, to buying a new car, to quitting a job to go full-time into a new business. When you supply us information to help verify your income, employment, assets and credit history, we will obtain a credit report directly from the credit bureau.

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For people interested in buying a home, refinancing a mortgage or applying for a home equity loan or line of credit in Pennsylvania. Great rates with superior service.

<< Frequently Asked Questions (FAQ)

Can my loan be sold? What happens if my lender goes out of business?

Yes, your loan can be sold at any time. There is a secondary mortgage market in which lenders buy and sell pools of mortgages and results in lower rates for consumers. A lender buying your loan assumes all terms and conditions of the original loan and the only thing that changes when a loan is sold is to whom you mail your payment. If your loan has been sold, your lender will notify you that it has been sold, who your new lender is, and where you should send your payments.

If your lender goes out of business, you�re required to continue to make payments. Loans owned by a lender going out of business are usually sold to another lender. The lender purchasing your loan is obligated to honor the terms and conditions of the original loan. In some cases, there may be a gap between the date of your lender's going out of business and the date that a new lender purchases your loan. If so, continue making payments to your old lender until you are asked to make payments to your new lender.