After the Mortgage Payment: Where Does the Money Go?
Have you ever wondered what happens to your mortgage payment once you send it in? If you are a mortgage geek (like us) or are just one of these people that like to know exactly how things work (and based on the email we get, there are a LOT of you in this category) head over to Calculated Risk for one of the best descriptions of how the servicing end (who collects the payments, how are they managed, who profits from it, and where does all that money go, etc.) of the mortgage business works….since y?all are nerds, not dummies,…