Who owns a house if the mortgage lender goes bust?
Written By: admin on August 9, 2009
2 Comments
If I have a mortgage on my house and my lender becomes insolvent, what happens?
Do I still owe anyone money?
Who owns the title to the house (in my case mortgage is 20% of buy price)?
Jon
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Of course you still owe someone money. The lender went bust because the lender owes someone else more money than they have. Accordingly, that someone gets your mortgage and you pay them.
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