Anyone have experience with JP Morgan Chase?
in Banking, Insurance & Loans ·
So, I’ve got a mortgage through Hypo. It’s not even a massive loan, honestly—I took it out about four years ago and getting approved was a total breeze. Maybe it’s just because back then they were handing out loans left and right, but all in all, the whole thing went through fast. No one asked for a co-signer, no hoops to jump through... nothing complicated.
I also have some cash sitting in a savings account at the same bank. It got me thinking: what actually happens if the bank goes belly up? If things go south, could I just use my savings to wipe out my mortgage debt? It wouldn't be right if the government ended up paying me back my savings while I'm still stuck holding the bag on the full amount of the loan. That feels like a raw deal!😳
I also have some cash sitting in a savings account at the same bank. It got me thinking: what actually happens if the bank goes belly up? If things go south, could I just use my savings to wipe out my mortgage debt? It wouldn't be right if the government ended up paying me back my savings while I'm still stuck holding the bag on the full amount of the loan. That feels like a raw deal!😳