Buying a home, you may find yourself working closely with a mortgage loan servicer to finance your home purchase. Knowing the basics of mortgage servicing can help you navigate the life of your loan and get a better handle on how to make changes in the future if needed.
After purchasing your home, you can make note of who your service provider is by viewing your monthly mortgage statement.
Your mortgage servicer is responsible for the handling of the loan after you have closed on your home. This includes managing escrow, sending payment statements and receiving your monthly payments.
You can’t change your mortgage servicer so it’s essential to do research before closing on your home. If you’re having issues with your provider that haven't been resolved directly through the company, consider escalating your complaint to the Consumer Financial Protection Bureau.
The terms mortgage lender and mortgage servicer may seem similar but they can differ based on the stage you’re in during the homebuying process.
Prior to closing on a home, a lender gathers your info to make sure you qualify for a loan, handle loan approvals and disperse funds once the home is closed on. Afterward, the lender transfers the handling of the loan to a loan servicer, however in some cases the lender also acts as the loan servicer.
Mortgage payments are a long term commitment so get to know your servicer and ask questions if you need clarity on your mortgage loan.
As a lifelong resident of Litchfield County, Heather is quite familiar with the beautiful Northwest Corner of Connecticut. In partnership with her husband at Turri, Inc., in Torrington, she managed and grew a 30+ employee electrical contracting firm that served both the residential, commercial and industrial industries. Currently residing in Goshen she hopes to transfer and utilize many of the skills she learned in contracting to the real estate industry.
Knowing how a vital community relies on its volunteers, Heather spent many hours in several capacities at local organizations that she admires. She serves on the Woodridge Lake Finance Committee and House Committee, Victoria Court Condominium Association (secretary) and Educating Canines Assisting with Disabilities (volunteer and nursery mom). Heather has also been involved with Goshen Community Care & Hospice (president of board of directors), Warner Theatre (board of directors), LARC (volunteer), Festival of Trees (founder), the Northwest Chamber of Commerce, and Goshen Business Circle. Heather also served as Vice President of Woodridge Lake’s Board of Directors.
In Heather’s spare time, she enjoys spending time with family usually in an active way by playing tennis, golf, boating, hiking and skiing.
Heather is honored to be a part of the E.J. Murphy team and hopes you will contact her with any of your real estate needs.
