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Updated about 5 years ago,
Swapping note servicer recommendation.
We have used three note servicing companies in the past for our owner financed houses when we sell with owner finance. A couple of years ago one buyer wanted to use a particular note service company that reports to Experian. We were fine with that and thought it would be a good idea to help other buyers to build credit/ stronger credit. So we did a few more with the same company in a short period of time until we discovered they had terrible customer service and many times don’t reply at all. The list of complaints is much longer, but that’s enough about the note service company.
The note service company that has the best customer service and best service does not offer the option of reporting to the credit bureaus. We are thinking of switching the accounts to this one since it is so useable and has good customer service.
My questions are as follows.
1. I have never switched note service companies and not sure the steps to take.
2 Does someone know of a user friendly note service company that reports to the credit bureau?
P.S. I didn’t name the company I was unhappy with for a reason. I’m not here to publicly tarnish them.
Thanks