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afchic · 09-10-2008, 18:22

I got to thinking about Freddie Mac and Fannie Mae recently because Freddie secured the loan on my home. Granted the loan was taken out through my bank, Wells Fargo, is a 30 year fixed rate, and we have never missed a payment, actually pay more every month than the scheduled amount.

Here is my question. If Freddie went under, what would have happened to the loan on my home? Would it just have been bought by someone else, or would I have been in a heap of trouble? Guess this is something I should know, but don't, and never thought I would have to.

09-10-2008, 18:22	#7
afchic Area Commander Join Date: May 2007 Location: IL Posts: 1,644	Question I got to thinking about Freddie Mac and Fannie Mae recently because Freddie secured the loan on my home. Granted the loan was taken out through my bank, Wells Fargo, is a 30 year fixed rate, and we have never missed a payment, actually pay more every month than the scheduled amount. Here is my question. If Freddie went under, what would have happened to the loan on my home? Would it just have been bought by someone else, or would I have been in a heap of trouble? Guess this is something I should know, but don't, and never thought I would have to.
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