What's actually going on
If I used a mortgage broker for my 30 year, small multi-family mortgages, are those lenders at risk of going under? If they do, what does that mean for my loan and terms?
Hey Danny, that's a good question. This article goes into it in some detail: https://www.investopedia.com/ask/answers/07/mortgage-lender-bankrupt.asp. In short, you'd continue paying your mortgage and someone else would buy the loan on the secondary market.
Thanks for the feedback - crisis averted haha
Completely unrelated to your article, so apologies; Mizkif is blowing up in a bad way. You guys be careful. Keep up the good work. It matters.
If I used a mortgage broker for my 30 year, small multi-family mortgages, are those lenders at risk of going under? If they do, what does that mean for my loan and terms?
Hey Danny, that's a good question. This article goes into it in some detail: https://www.investopedia.com/ask/answers/07/mortgage-lender-bankrupt.asp. In short, you'd continue paying your mortgage and someone else would buy the loan on the secondary market.
Thanks for the feedback - crisis averted haha
Completely unrelated to your article, so apologies; Mizkif is blowing up in a bad way. You guys be careful. Keep up the good work. It matters.