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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?
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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. |
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Re: Hypothetical Question...Spawned from FDIC Thread
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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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