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If a bank goes under and a new back assumes the laon can they cancel your loan modification?

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July 23 - Sacramento
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Profile picture for The Mod Squad
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Since June 2009

Once the deal has been done- its done.
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July 23
Nope.  The modification is (supposed to be) an addendum to the note.  The note IS the mortgage, for all intents and purposes, and can't be unilaterally modified or cancelled, except according to the original terms.
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July 23
Profile picture for elizabeth_weintraub
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I would imagine a new bank would assume the liabilities and assets of the old bank.
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July 23
 

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