What happens to my mortgage if the bank goes broke?
Kelli M asked:
If the company that holds my mortgage goes belly up, what happens next? Does someone else buy the mortgage? And how would this affect me as the homeowner?
If the company that holds my mortgage goes belly up, what happens next? Does someone else buy the mortgage? And how would this affect me as the homeowner?
April 22nd, 2010 at 10:14 pm
another bank will gladly take that mortgage
April 23rd, 2010 at 5:23 pm
It doesn’t affect you. You keep paying as usual. If the mortgage is sold, you will be notified where to send the payment.