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Mortgage co going into bankruptcy?
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CaidensMommy
My 3 Miracles!
Member since 5/05 5777 total posts
Name:
Melissa
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Mortgage co going into bankruptcy?
Does anything happen to the people who already have mortgages with a mortgage company that is going into bankruptcy? I'm just wondering because we have both mortgages through GMAC right now and they're going to be going under? We're hoping to sell the house, but for now, I was just wondering. Thanks!
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Posted 11/11/08 8:54 AM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Mortgage co going into bankruptcy?
are they going under or reorganizing?
Chapter 11, 13 or 7?
If they are going Chapter 11 or 13 I believe it's a re-org and nothing will happen.
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| Posted 11/11/08 11:38 AM |
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Re: Mortgage co going into bankruptcy?
I don't know much about mortgage company but I would assume those mortgages would be bought. I really don't think you have anything to worry about.
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| Posted 11/11/08 4:14 PM |
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