Can a company buy and service your home loan if they are not licensed in your state and unable to help you with anything?

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Can a company buy and service your home loan if they are not licensed in your state and unable to help you with anything?

Our mortgage loan was sold and the new lender  is not licensed in my state. My wife and I qualify for president Obamas HARP program but the lender is unable to help us because they are unlicensed.

Asked on March 5, 2012 under Real Estate Law, New Jersey

Answers:


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