Word: mortgagee
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ACTION: Keep paying your mortgage. Please
MORTGAGE
What happens if my mortgage lender runs into trouble?
If the company that holds your mortgage fails, your loan, along with all others, will be assets in a bankruptcy proceeding. Chances are, some bank will come along and buy the loans, and then you'll have to mail your mortgage payment to a new address. That's it. The...
Economic gloom is the trademark of most newspaper headlines as of late. Oil prices rise and fall, but bear bad omens either way. The housing market continues to deflate. And in the midst of it all, a number of Wall Street’s most venerable institutions are disintegrating. No...