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Old 08-10-2005, 01:17 AM
James Boston James Boston is offline
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Default 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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Old 08-10-2005, 08:21 AM
GeorgeF GeorgeF is offline
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Default 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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Old 08-10-2005, 08:59 AM
Sniper Sniper is offline
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Default Re: Hypothetical Question...Spawned from FDIC Thread
http://www.fdic.gov/bank/individual/failed/
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Old 08-10-2005, 05:37 PM
laserboy laserboy is offline
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Default 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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