Many people who have bought a home in the past few years have a mortgage with Option One – a subprime lender owned by H&R Block. H&R Block has decided to refocus entirely on it’s tax business and get away from the ever-fluctuating mortgage business. So, they are selling Option One to a private company for $300 Million.
Read more here.
If you have a mortgage with Option One – don’t worry… nothing will change. Well, maybe a mailing address will – so make sure you read your statements. But your terms cannot change just because the company changes ownership. However, it is always good to keep an eye on your account during this transfer – just for your own piece of mind. Make sure all your payments get posted correctly and on time.