Who will own our house notes

[Kelphi]

Who owns our house notes today?

[Shellie]

Well, if the banks are buying out the mortgage companies, and bigger banks are buying out the smaller banks, I would guess Rockefeller will own your house soon.

[seekur3]

As my momma used to say, "what does that have to do with price of eggs in nebraska?"
If you owe a bucket load of money to live in your "home", you owe a bucket load of money - period. It doesn't matter to who. Pay down your mortgage ASAP - period.

[gwynned]

Originally Posted by Kelphi

Who owns our house notes today?

Mortgage notes are (or at least were) bundled up into securitizations and sold and resold on the open market like bonds. If you have a mortgage from BofA, for instance, they may still be servicing the loan (sending you statements, etc.), but they don't own the loan. As the servicer, they will have an agreement with the bondholders to protect the interest of the bondholders, who could be a teacher's pension fund or a foreign investor. It's not like the Chinese or anyone else owns our individual mortgages and can come here and foreclose on the house and take it over, as they would generally only own a portion of a particular bond, the remainder of which would be owned by any number of other parties.