My mortgage lender is having subprime worries. Should I be worried?
My mortgage is with Countrywide, and if you’ve seen the news today, they’re starting to get hit with issues stemming from subprime loans.
I wondering whether this is something I should be worried about or not.
My gut feeling is that it shouldn’t matter. I have an established loan with a good fixed rate. They can’t raise my rate or anything like that, everything is contractually bound. If they go bankrupt (which is unlikely) my loan still shouldn’t be affected as far as I can tell.
What are other people’s thoughts here? Is there any reason to be concerned about financial issue at your lender?