More and more consumers are on edge about the status of their homes should their mortgage company go bankrupt. And rightfully so. What should a person do if they learn their mortgage company is no longer in business? The short answer is nothing. And no, you won’t be able to live in your house for free now that your mortgage provider is out of business. You still owe exactly what you owed before and, rest assured, someone will be expecting you to send in a [tag]mortgage payment[/tag] each month. What happens when a mortgage company goes bankrupt is simply that the mortgages they own are sold to another mortgage company. Nothing else changes. Personal Bankruptcy Laws For Dummies (For Dummies (Business & Personal Finance))

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