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What happens when banks go under?
Is the debt forgiven if all the banks go under??? Just curious
Thanks for posting the video. I actually saw it a while back... Still doesn't quiet answer my question. What would have happened if BOFA, Wells Fargo, etc, etc. all went bankrupt and were dissolved. Who would home owners write out their mortgage payment to? Would the better mortgages just be sold to another lender as the comapny was being dissolved???
I'm in Real Estate and am Amazed at how many mortgages by local banks are immediately sold to BOFA, Wells, etc..
1 Answer
- falsi fiableLv 710 years agoFavorite Answer
No. Educate yourself on how the banking system works:
Money as Debt
http://www.youtube.com/watch?v=Dc3sKwwAaCU
Money as Debt II
