If my local bank were to collapse and all deposits were lost, would this mean I don't have to pay my mortgage anymore. Or let's say I had 50k in the bank and I owed them 150k, would I have to pay someone else back the 100k balance or would my 150k liability still have to be paid and I would just lose my 50k. I'm not saying banks are collapsing and that this will happen. Just want to know how it would work if it did.
Submitted March 19, 2023 at 04:16AM by Flaky-Grapefruit-170 https://ift.tt/lUGmdyN
