Many years ago, before I came over from "the dark side", I was a banker at a locally owned, independent national bank.
Best advise I can give is to continue repaying the money you borrowed to purchase your property from the financial institution regardless of its situation or ownership.
The mortgage that is secured by your property will always be "held" by "somebody" until you pay it in full.
If your financial institution is "bought out", make sure you correctly identify the new owner(s) and make your payments to them.
Always, always, always get a receipt for your payment from the new owner(s).
Also keep all statements from your financial instituion regarding your mortgage.
Your "paper trail" from the financial instituion is your best defense in a worst case scenario.
Most folks that work at your local financial institution are decent people.
A financial institution ( corporation ) is a bloodless, heartless, unconscionable, artificial "person" created by law.
Now I will make a shift from "preachin" to "meddlin".
Adjustable rate mortgages are a "b!tch".
SOB (Sorry Old Banker) that came up with that scheme should have been drawn and quartered!
No win situation for the homeowner.
SOB (Sorry Old Banker) that conjured up home equity loans should be buried up to his neck next to fire ant mounds!
No win situation for the homeowner with leveraged equity.
I can remember when it was unlawful in Texas to secure a loan with a lien-free homestead.
Folks had plenty of "free and clear" land, but could not borrow money against it.
Better stop for now because forum etiquette does not allow politics or religion.
I am getting close to "losing my religion" and possibly making some "politically incorrect" remarks.
In all earnest, make your payments and keep your receipts.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
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