Planetarion Forums - View Single Post - what would happen if your mortgage lender went under?

dda · 14 Mar 2007, 20:02

I don't know about the UK but in the US most mortgages seem to be purchased from the origianl lender. I have, in the past, had my mortgage sold to other institutions. There are even companies that don't make any original loans and that solely purchase loans from other institutions.

Don't worry, you will not be affected if such a thing were to happen though you might start sending your payment to another address.

14 Mar 2007, 20:02	#16
dda USS Oklahoma Join Date: Jun 2005 Posts: 2,500	Re: what would happen if your mortgage lender went under? I don't know about the UK but in the US most mortgages seem to be purchased from the origianl lender. I have, in the past, had my mortgage sold to other institutions. There are even companies that don't make any original loans and that solely purchase loans from other institutions. Don't worry, you will not be affected if such a thing were to happen though you might start sending your payment to another address. __________________ Ignorance is curable, stupidity is not.