Can a bank withdraw funds from an account I have at a different bank to pay an overdue loan?
November 13, 2008
I have a mortgage with a bank. The renters have gone and I have no sense of cover the mortgage until it obtains the new renters. The bank has taken the mortgage from my bank account. If I close this account and I am more open to a different bank can log on to my new bank account to obtain their funds.
Martha B
Posted by admin under blog | Comments (1)
They can’t take it from another bank account unless you provide them with that information. However, you need to find a quick way to pay the mortgage before the bank calls in the loan. In other words, they can demand all the remaining mortgage you owe on the house and if you can’t come up with it, they could start foreclosure proceedings. Good luck.
Comment by bombastic — November 16, 2008 @ 7:01 am