Mortgage – If Bank Goes Under What Happens To Borrower?
If your Mortgage Lender Defaults what will happen to the borrower?
Ok, They will try to sell your loan. Can they demand payment in full (call the loan?) Are there any legal protections from the government.
What will be the effect on the Economy? Are we looking at another “bail out” like what happened with the Savings and Loan Scandal in the 1980s brought on by deregulation???
Worried in Connecticut. 🙁