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Ellen
Ellen, Attorney
Category: Bankruptcy Law
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Experience:  Bankruptcy Lawyer. Experienced.
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WE JUST RECEIVED A LETTER THAT OUR MORTGAGE COMPANY HAS FILED

Resolved Question:

WE JUST RECEIVED A LETTER THAT OUR MORTGAGE COMPANY HAS FILED BANKRUPTCY,HOW DOES THIS EFFECT US AS HOMEOWNERS ?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  Ellen replied 5 years ago.

WebLaw :

*This chat is not intended as legal advice. It is general information that may or may not apply to your situation and should not be relied upon.*

WebLaw :

Welcome to JustAnswer,

My name isXXXXX shall do whatever I possibly can to provide you with helpful information about the law. Please keep in mind that, although I am an attorney, I am prohibited from giving customers of the site legal advice or forming an attorney-client relationship on this forum.
If at any time the information which I provide is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

WebLaw :

Typically the lender's bankruptcy has no effect on the homeowner and the homeowner must continue to make the mortgage payments

WebLaw :

The FTC has issued a statement with facts for consumers whose lender has filed bankruptcy. You may read the fact sheet at this link: http://www.ftc.gov/os/2007/12/071219mortgage.pdf

WebLaw :

The lender will remain responsible for any escrow deposit

WebLaw :


I think this is what you wanted to know. Please let me know if I have answered your question

Ellen and other Bankruptcy Law Specialists are ready to help you
Expert:  Ellen replied 5 years ago.
Welcome to JustAnswer,

My name isXXXXX shall do whatever I possibly can to provide you with helpful information about the law. Please keep in mind that, although I am an attorney, I am prohibited from giving customers of the site legal advice or forming an attorney-client relationship on this forum.

If at any time the information which I provide is not clear to you or does not fully answer your question, please ask me for clarification by using the reply button.

Typically the lender's bankruptcy has no effect on the homeowner and the homeowner must continue to make the mortgage payments

The FTC has issued a statement with facts for consumers whose lender has filed bankruptcy. You may read the fact sheet at this link: http://www.ftc.gov/os/2007/12/071219mortgage.pdf

The lender will remain responsible for any escrow deposit


I think this is what you wanted to know. Please let me know if I have answered your question