AIG Takover by US Government

[Donal_Ward_McCarthy]

Here is a quick question that I am puzzled over. Seeing as I almost had to accept one of the AIG`s mortgage products a few months back, ( Fortunately i got Firstline`s product), I am wondering what would happen if today I had that same AIG product and;

1. If the US government had not stepped in to save the company.
and
2. The company went into bankruptcy;

What would happen my equity in the property? Who gets the property etc etc.

I am assuming of course that the AIG Insurance company and mortgage lending instutution are closely linked.

A rather naive question I know but thanks for answering in advance,

Have a great day

Donal.

 

[Nir]

Good Question Donal.

I`m interested to know the implications of such a scenario too.

Cheers,
Neil