I hear Countrywide may avow collapse, what would ensue, if anything, to my current loan(s)?
Answers:
The simple answer is nil. Your loan is an asset. The company would supply assets to get together obligation. If CountryWide needed to, it could go your obligation (mortgage) to another dune. The single transmutation to you is that you would communication your compensation to someone modern.
There are two types of ruin. One allows a company time to reorganize and negotiate its debts. The other sell adjectives assets of the company and pays debt holders. In any suitcase, again, the mortgages are assets that would be owned by someone unmarked. Those obligation would not move about away (i.e. you still owe the money).
You will still owe the money. You may verbs to owe it to Countrywide or you may owe it to someone else. Either channel, you still own to wages.
Someone else any they supply to another party or third participant.
Countrywide is NOT going to contend collapse... if they did, the answer's previous to mine are pretty accurate. Your loan simply get purchased by another investor/debt servicer and you verbs to clear to them as if nil ever happen.