I have a mortgage and business loan from my bank. The bank has twenty days to find a buyer or merge with another. The word is that there are no buyers. What will happen to my loans?
Either the FDIC will find someone who buys them with the bank, or the FDIC will assume them. In either case you should get a letter when that happens and you'll be told then to whom you must make payments.
Many people think these loans may go away. That won't happen. They are still an asset with value and a return of interest on the investment.
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