Dear Mary: I just read that the company that holds my home mortgage is under investigation by the feds and has a net worth of negative $63 million. This company holds the title to my house. If it goes into bankruptcy, am I at risk of losing my home, even though I’ve never been late on my payments? I don’t want to refinance with another company, because I am locked in at a great rate for the life of the loan and refinancing would cost a lot of money.—Angela
Dear Angela: From what you’ve told me, I don’t think you have a thing to worry about. I do believe you have stated incorrectly that the lender holds title to your home. I am quite certain the title is in your name, with the lender having a lien on the property secured by a note and deed of trust.
