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Updated over 3 years ago,
Loan sold to Kondour during loss mitigation process
I had some financial difficulties in 2019 and defaulted on 3 payments. I was offered forbearance for 6 months in 2020. My financial situation improved in 2020 and have been making regular payments since 10/20. A few months ago, current mortgage lender asked me to submit a loan modification application for the 3 missed payments from 2019/20 and 6 months of forbearance which I did . I received a letter from them acknowledging the receipt of application but it mentioned that foreclosure process had been initiated. An underwriter called me 2 weeks ago telling me that everything looked good and that she will recommend adding the unpaid balance to the tail of the loan. She said she will call after the meeting with the management that was scheduled later that day. That call never came but I received a letter from them indicating that the note was sold to Kondour Capital. A quick search showed Kondour is not a conventional lender. I am very concerned as we have young kids.
Wondering what this means for us. I have no problems in making mortgage payments and could pay the past due amount as well. I appreciate your comments in anticipation.