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What I am more concerned about is a chapter 7, where the bank is gone. Is it possible that the loan contract can be terminated by the bank or the bankruptcy court, and we would have to repay the loan in full?
We are with Countrywide. Our loan is not big, our housing prices were never part of the bubble, we have a fixed loan. Countrywide is possibly going to go bankrupt. I know that contracts can be terminated as part of a bankruptcy even under chapter 11.
I am not itching to re-fi, but just concerned that my mortgage holder may go bankrupt.
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James
The pessimist complains about the wind; the optimist expects it to change; the engineer adjusts the sails.- William Arthur Ward (1921-1994)
Red-beard for President, 2020
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