Hello and

welcome to Moneygirls quick and dirty tips for a richer life.

Today's topic, how does the mortgage meltdown affect existing mortgages?

A listener named Don emailed me with this question.

The banks have decided to quit lending money to the mortgage company that holds both my mortgages. Banks have

the mortgage company that holds both my mortgages. My question is, how does this affect me

and those of us who have our homes mortgaged by the company?

According to the news, the company in question is one of the nation's

biggest. If they go bust, is it possible that the terms of my mortgages could change?

Would the Fed bail out the mortgage company?

Am I subject to the whim of whoever buys out the mortgage assets of my current company?

Just wondering how worried I should be at this time.

Thanks for the question, Don.

In the U.S. if your mortgage lender were to go bus, the terms of your mortgage would

not change.

Another company would

hold.

during the time,

during the time of the Great Depression,

the rules were different and lenders could call a mortgage

loan due if they wanted to, and they did.

Back then, lenders could demand a full repayment of a loan at any time.

...