Quote:
Originally Posted by CaptainCrunch
Money dosen't vanish and for the most part neither do obligations, I get what your saying, but even if a fund doesn't exist the contents of that fund had to go somewhere. So those mortgages have to be somewhere.
I don't know, I'm not a mortgage guy, but protest or no, i'm not going to put my house at risk by not making a mortgage payment on the advice of a internet person or celebraty. Like I said I can't find anything about this on a the web from a legal interpretation standpoint so it hasn't been put in front of the courts, and I'm not sure thats a fight that I want to pick.
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Yep, someone assumed that mortgage. There's certainly mortgages out there held in massive polls that the owners have very little familiarity with in terms of specific mortgages, but that doesn't mean the obligation simply disappears. Just because CDO's aren't trading doesn't mean the assets underlying them cease to exist.