It's important to continue making payments until
your servicer approves your application.
Not exact matches
Once your
application for consolidation is
approved, your loan
servicer will contact you to let you know when your first payment is due.
You are expected to continue making your monthly payment until your loan
servicer inform you that your
application has been processed and
approved.
HUD claims it is completely up to the
Servicer to
approve the NBS
application (or to foreclose).
BUT approx. 38 % of
servicer approved NBS
applications submitted to HUD for assignment have been denied by HUD.
I believe this is against the intention of the court ruling and certainly is the opposite of HUD's public statement that it is completely up to the
Servicer to
approve the
application for assignment.
In some instances, some
servicers of federal student loans have failed to
approve applications.
If the
servicer fails to provide a decision to the short sale applicant within that time period, the
application is deemed
approved.