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James Boston

08-10-2005 01:17 AM

Hypothetical Question...Spawned from FDIC Thread

If you have a mortgage with a bank that goes under (or any kind of loan), what happens to it? Can they call in the loan early?

GeorgeF

08-10-2005 08:21 AM

Re: Hypothetical Question...Spawned from FDIC Thread

Can they call in the loan early?

Standard mortgages do not permit this, I assume you have a normal mortgage.

Sniper

08-10-2005 08:59 AM

Re: Hypothetical Question...Spawned from FDIC Thread

http://www.fdic.gov/bank/individual/failed/

laserboy

08-10-2005 05:37 PM

Re: Hypothetical Question...Spawned from FDIC Thread

I would assume the bank's assets (outstanding loans included) would get liquidated in bankruptcy and you would continue making payments to whatever institution bought your loan.

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