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Breaking news from the banking industry. I take back my earlier optimism about the dollar potentially strengthening. The foreign banks are gonna have a heyday . . .
Posts: 786 | Registered: Jun 2003
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That's the company that holds the mortgage on our house. They just called earlier this week (they call about once a year) to find out if we were interested in refinancing our mortgage. I wonder what will happen to us now....
Posts: 5879 | Registered: Apr 2001
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Frankly I think that if someone huge were to completely go under that might be a good lesson from this and mass stupidity that led to most of these problems.
Posts: 1621 | Registered: Oct 2001
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I'm not sure if crazy foreclosures, recession, and potentially trillions of dollars in debt going bad count as a "good lesson."
Posts: 3950 | Registered: Mar 2006
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This makes me never want to have more than $100,000 in any one particular bank (or $250,000 in an IRA.) Not that that's a danger right now, but, you know.
Posts: 21182 | Registered: Sep 2004
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I think the whole fractional reserve fiat currency system is in danger of collapsing, especially as the 500+ trillion derivatives market unfolds. Good luck, all!
Posts: 1592 | Registered: Jan 2001
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quote:Originally posted by rivka: Probably nothing for a while. Then your loan will most likely be sold off to another bank or servicer, I believe.
Yeah, since we have a good history, I'm sure someone will be happy to buy our loan. I just hope we don't end up being sold to the stagecoach again (they screwed stuff up when they bought the original loan for our house).
Posts: 5879 | Registered: Apr 2001
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That's the company that holds the mortgage on our house. They just called earlier this week (they call about once a year) to find out if we were interested in refinancing our mortgage. I wonder what will happen to us now....
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