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by pegmbennett on February 22nd, 2007

pegmbennett

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If your mortgage company closes its doors or files for bankruptcy, what happens to your home loan? Do you still have to make payments? To whom?

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Answers. 2 helpful answers below.

  • by keithold is a prodigal bagger on February 23rd, 2007

    keithold is a prodigal bagger

    G'day Pegmbennett,

    Thank you for your question.

    Your loan is still an asset. As such, it would be sold to another company and you would have to make payments to them. I would speak to a lawyer about the details of your situation.

    Regards

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  • by tsand on April 4th, 2008

    tsand

    i would think that if your original mortgage company files. Your loan would be sold to new lender and you would just pay new lender. at same rate as your oringinal mortgage contract. I dont believe that a new lender can ajust rates or change payments.

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