Money matters can affect every area of life, often stirring up emotions of worry, fear, anger, and resentment. If not dealt with swiftly, those feelings can turn to bitterness, which can eat a person from the inside out.
How to avoid that bitterness thing from taking hold? Talk it out. Ask for help. Get advice from someone you trust.
Dear Mary: I just read that that the company that holds my home mortgage is under investigation by the Feds, has a net worth of negative 63 million dollars and is expected to file for bankruptcy. This company holds title to my house. If it goes into bankrupt, 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.