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With all the financial woes that banks are facing,

a question came to my mind. If our mortgage company would collapse and file bankruptcy, would we still owe our mortgage?

Answer Question
 
Anonymous

Asked by Anonymous at 3:56 PM on Feb. 23, 2009 in Politics & Current Events

Answers (11)
  • Yes, they would sell it to another bank. Mervyns went belly up and I still owe the balance on my card.
    trippyhippy

    Answer by trippyhippy at 3:57 PM on Feb. 23, 2009

  • of course you would.
    akinbottom2

    Answer by akinbottom2 at 3:59 PM on Feb. 23, 2009

  • Yes. They sell the mortgages off to another company. My parents' mortgage has changed hands twice because companies keep going under.
    StarLee

    Answer by StarLee at 3:59 PM on Feb. 23, 2009

  • No such luck! mortgages are sold every day. we don't have the same mortgage company as when we bought our house.
    itsmesteph11

    Answer by itsmesteph11 at 4:01 PM on Feb. 23, 2009

  • It begs the question, do you know how to write checks in Chinese?

    Anonymous

    Answer by Anonymous at 4:23 PM on Feb. 23, 2009

  • *LMBO* anon ^^ Perfect question
    mamakirs

    Answer by mamakirs at 4:37 PM on Feb. 23, 2009

  • Well if your in an Obama state of mind just expect the government to pay for you to relocate yourself until you find a comparable place to live, oh sorry you said the responsible renter. Nevermind your screwed, you lose.....annnnndddd you get to pay higher taxes. Ha Ha Ha
    Anonymous

    Answer by Anonymous at 4:44 PM on Feb. 23, 2009

  • Havn't you learned anything yet? Our government would just bail them out and so if you were responsible and making your payments you would still just keep making your payments.
    SheriSanchez

    Answer by SheriSanchez at 5:00 PM on Feb. 23, 2009

  • To all of you stating "Yes they just sell the Mtg to another Co..."


    Read this:
    http://www.msnbc.msn.com/id/29242063/
    and this:
    http://www.app.com/article/20090217/NEWS/90218003


    I guess it's basically the same article just two sources - it doesn't get you "out of owing" but I thought it was an interesting "loop hole" to get you a little breathing room to get things figured out...

    beachmamaof2

    Answer by beachmamaof2 at 5:14 PM on Feb. 23, 2009

  • See, now that article just pisses me off. These people can't bay the damn mortgage. Leave the house. They want to "hold on just a little longer" for what. Money sent from heaven. Just another way for people to try to get something they didn't pay for. I swear this country makes me sick.
    Anonymous

    Answer by Anonymous at 5:21 PM on Feb. 23, 2009

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