Countrywide Mortgage making me nervous
I dont know if this is an appropriate place to ask, or even an appropriate question- as Im not sure there is an answer!
Our mortgage was sold to Countrywide in late 2006. We havent had any problems. We have the same fixed rate, we always pay on time and generally pay extra applied to principle. No issues with billing, payments being credited, etc. We have no escrow (we pay our own property taxes) and pay no PMI.
Im nervous with all this talk lately about their stability has me wondering what will happen to my mortgage!! I know that Countrywide was recently aquired by Bank of America. We still send our payments to Countrywide as billed. Any thoughts on what could happen if this company goes under? Will our mortgage just get sold again, or could something worse happen?
We really arent interested in refinancing with another institution at this point since our fixed rate is at a great rate (in our opinion!) and we have no financial reason to need to refinance. Additionally, even with a refinance there is no guarantee that our mortgage wont change hands again
Any thoughts or experiences welcome! Thank you.