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

Tomkat · 16 Mar 2007, 17:33

I think people are repeating what's already been said though - that the debt would merely be transferred to another company who'd take over (your house wouldn't be repossessed or anything).

The dicussion had moved onto whether the contract remained the same (same remaining number of payments, same cost for each payment) or if a new one had to be written up (perhaps with more favourable terms).
Although it seems from what you've said, that the contract remains the same (and that nod was correct). I assumed a new one would be written up for the new company.

16 Mar 2007, 17:33	#31
Tomkat :alpha: Join Date: May 2002 Location: London, UK Posts: 7,871	Re: what would happen if your mortgage lender went under? I think people are repeating what's already been said though - that the debt would merely be transferred to another company who'd take over (your house wouldn't be repossessed or anything). The dicussion had moved onto whether the contract remained the same (same remaining number of payments, same cost for each payment) or if a new one had to be written up (perhaps with more favourable terms). Although it seems from what you've said, that the contract remains the same (and that nod was correct). I assumed a new one would be written up for the new company. __________________ "There is no I in team, but there are two in anal fisting"