Purchasing Countrywide did as much to save Bank of America, whose stock would have taken a massive hit if Countrywide went belly up, as it did Angelo Mozillo (who nows gets to avoid the possibility of jailtime if the company did crash and declare bankruptcy).

Did a sheriff or bailiff declare that the remaining possessions were junk and could be taken to the dump or set on the curb?

Either way, I didn't want to be stuck and unable to access my money for however long it took to get things figured out......Sorry to digress here.They're FDIC, and I don't have >$100k, so I'm covered.How long do you expect it would take to actually get the money back if they do declare bankruptcy?

The fact is that a court can AND WILL declare your assets ripe for picking in a lawsuit if the plaintiff can prove that you manage the day to day operation of the business.

(I think $10k limit before you have to declare it)BestToby

From a licensing point of view you will need two licenses, the MLO and a consumer lending license for the company.The exception to that rule is if you are financing a home that you actually lived in for two years or more and it was your declared primary residence on your income tax forms.Even with the licenses go a plethora of compliance issues from Red Flag to Debt Collection practices, and everything in between.

Maybe someone else is the checkbook and you're the muscle (or brains) and you split the equity/return somehow.

The insurance provider has a responsibility to put the lender on notice in the event a policy lapses as insurance coverage has to be declared when in place and not in place so the insurance company avoids its own liabilities.Whether the borrower wants the mortgagee on the insurance or not is irrelevant.

And if for some reason the sale is declared null and void, well at least I tried.I just wish my lawyer would communicate with me.

Declare war on drugs - eliminate these from America. 4.