2007-01-06 11:20:59 · 9 answers · asked by Sir Nickle Barsteward 3 in Business & Finance ➔ Credit
Yes you will have to pay your mortgage even if the entire town around you is destroyed!!
Failure to pay your mtg will lead to foreclosure. No matter what building your lenders office is destroyed in or not.
2007-01-06 11:28:03 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Of course. If the local branch or the corporate headquarters are destroyed by either acts of God or Politics {terrorism} that does not mean you are free of the leash on your mortgage obligation. There are records, in paper and electronically that have the information on other areas on the country and sometimes outside the country.
The only way you will not be required to paid is if some sort of alien invasion comes in and destroyed the whole planet, then you, your home, me, your local mortgage company and life as we knew it won't be here to pay anything. See my logic? I hope you do., so getting back to the real word is you still need to continue paying until PIF or property sale.
2007-01-07 16:05:27 · answer #2 · answered by lelekid4ever 5 · 0⤊ 0⤋
The unfortunately complex thing about the mortgage industry is your lender probably isnt your lender, your paper or your mortgage in laymans terms is sold as an asset and collected to create bonds, but even if your lender is a full service lender he probably has backups of all of the info offsite.
2007-01-06 11:34:13 · answer #3 · answered by njshoremortgage 2 · 0⤊ 0⤋
Most people and businesses have information in more than one place. Most mortgage agents do not maintain the records of their clients.
Your mortgage information is most likely safe, may be recorded at the county office.
I would bet there is no chance that you will not have to pay. If there are delinquent payments, there may be disputes, but I feel that you will loose in 99.2% of the cases.
2007-01-06 13:56:18 · answer #4 · answered by whatevit 5 · 0⤊ 0⤋
The coupon book for may mortgage shows payment mailing addresses in GA and CA. It shows a FL address for customer service and a TX address for tax. Even if all of these were destroyed, the shareholders would have the right to the remaining assets of the company. You remaining balance if one of those assets.
2007-01-06 13:28:06 · answer #5 · answered by STEVEN F 7 · 0⤊ 0⤋
Unfortunately every thing is recorded by the county.
2007-01-06 11:36:50 · answer #6 · answered by Terry 5 · 0⤊ 0⤋
Why, are you planning to go down there with a large amount of explosives?
2007-01-06 11:42:58 · answer #7 · answered by Don't Panic 4 · 1⤊ 0⤋
If only, sorry no, why are you planning to burn down Norwich Union do you need some match's ???
2007-01-10 03:24:39 · answer #8 · answered by Anonymous · 0⤊ 0⤋
yes what planet are you on
2007-01-06 11:38:00 · answer #9 · answered by gardeninghogweed 2 · 0⤊ 0⤋