2007-03-19 10:20:41 · 3 answers · asked by bnb 1 in Business & Finance ➔ Renting & Real Estate
If you mean, would you no longer have to pay your loan, don't get your hopes up.
They will have to provide the bankruptcy court a list of all people that owe them money. Trust me, the bankruptcy court isn't going to let you default. The courts will probably sell their outstanding loans to another financial institution to get cash to pay off New Century's debts.
You'll still owe the money. It will likely be to another financial institution though.
2007-03-19 10:24:24 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
The loans are still being sold off, the homeowners will not be effected by this, only investors.
2007-03-19 17:23:17 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Other companies will buy those loans (really cheaply) but will still want you to pay them in full.
2007-03-19 17:23:26 · answer #3 · answered by gosh137 6 · 0⤊ 0⤋