SRSLY asking
If the banks did fail that owned our mortgage. Who would we have to send the payments too? And if the answer is no one that you may spit out. The banks that didnt fail and people whos mortgages are still active do you see that being fair?
I say the luck of the straw would be my final answer the my own question.
Just wondering how you would feel if you had to pay and your neighbor was lucky and their bank closed out.
/yourself
Bank gives you loan>
Bank sells loan to different investment firms, mutual stock companies, etc. most of which are on wall street>
Wall street investors gets their money from people/companies in the country or from the European Union/China etc.>
When someone defaults on their mortgage the bank forecloses and sells it off to recover initial investment+added%/ or just attempt to recover their investment in order to continue work with other investors/not go broke>
When BANKS default on their loans, because their investments are no longer worth what they valued them to be, then all the capital that they have invested, results in the economic climate like today's.
No matter what, your loan is owned by someone, to think of an institution in it own entirety as a whole with no other attachments is to basic of thinking and means you need to read something other then the comic section of the newspaper. But in your case it wouldn't matter because you most likely couldn't filter out the false information anyways.
Education>fatbody