mortgage bank bankruptcy

Too many variables to talk about... but don't worry, the loan will be taken care of by someone, and you'll still be making payments!

Not a problem.. Your loan will most likely be sold off.. The original terms and conditions will remain the same, as they cannot change what you already agreed to.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Your loan will most likely be sold.

Your Note will be serviced by another company most likely. You may have a goot opportunity to seek better terms on your loan. Many times the interim Trustee of your loan never receives the proper paperwork nor can the chain of title of the Note be verified. If you find that to be the case, you have good grounds to use that as leverage to renegotiate the terms of your loan, such as principal and/or payment reduction in exchange for your silence.

you will get either a new servicer only for your loan, or a new company... they, the new lender..servicer, understands that there is time involved, so they will give you time to make your payments without being late... I have gone thru this 3 times on one of my houses... linda

Your mortgage will stay the same. Same terms, same payment. The only change will be who you make your payment to each month.

Another lender will be taking over your loan. There will not be any changes to any part of your loan, just who you will be making your payment to.

You will continue to make payments it will just be to a different servicing company. This new company can not change any of the terms of your loan.