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What happens if they company you have a mortgage through goes bankrupt?

If you have a loan in good standing, is there any possible concern if the lending company goes belly up?

5 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    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 institution

  • Anonymous
    1 decade ago

    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/american-...

    Source(s): RE Broker
  • 4 years ago

    Any corporation that *manages* a mutual fund can go bankrupt, confident. What i think of you advise nonetheless is despite if a mutual fund itself is going bankrupt. It would not incredibly paintings that way; the mutual fund can in simple terms proceed to lose fairness until this is valueless, and all which means is that the traders lose their investment. it particularly is possibly no longer comparable to going bankrupt.

  • RAR24
    Lv 4
    1 decade ago

    Mortgages are still valuable so they will be bundled up and sold off to another company.

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  • 1 decade ago

    Your loan will be sold to someone else.

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