If you have a loan in good standing, is there any possible concern if the lending company goes belly up?What happens if they company you have a mortgage through goes bankrupt?
no if a mortgage co goes out of business they sell their loans to another lender so you will receive info from the new lending institutionWhat happens if they company you have a mortgage through goes bankrupt?
Your loan will be sold to someone else.
That's a good question. It depends who the loan servicer was/is. Read the link below about one lender who has no idea who owns 490,000 loans sitting in a warehouse.
http://www.bloggingstocks.com/2008/02/11鈥?/a>
Mortgages are still valuable so they will be bundled up and sold off to another company.
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