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If the Servicer for a mortgager files Chpt 11 Bankruptcy?
I received a notice that an entity which collects and tracks mortgages held by the bank that services our mortgage loan has filed for a restructure under Chapter 11. Should I be concerned about losing my home (spend money I can't afford on an attorney)? Or should I not be concerned?
1 Answer
- rusty_266Lv 49 years agoFavorite Answer
The only time you should be concerned is if you are delinquent in paying your mortgage. Regardless of what happens to the servicer, you will still own your home as long as you keep making the payments.