Posted on: 24th Jun, 2008 10:59 pm
I have a mortgage in Georgia which I am going to have to go into foreclosue, I cannot afford the payments any longer. Can the mortgage company go into my checking account and take the amount of payments without permission?
No
They may be able to garnish wages if they get a judgement.
I doubt it will go that far..banks dont usually spend good money chasing bad money (money they may never see)
Brian
They may be able to garnish wages if they get a judgement.
I doubt it will go that far..banks dont usually spend good money chasing bad money (money they may never see)
Brian
If the mortgage company get the permission from a court, it maybe happen that the company will take out money from your checking account for the monthly payments.
I have my checking account with the same bank that has my mortgage. I am 2 months behind and started the process with an agency to modify the loan.They are still close after the holidays. The same bank wrote a remotely created check and withdrew my checking account into a minus $1576 without authorization. Is this legal. What can I do?
bond i answered your question somewhere yesterday or the day before.
my second mortgage is with wachovia . our home is in georgia and we bank with wachovia. i am 3 months behind on my second mortgage. the day my paycheck hit, they removed the three months payment. everyone on this site says this can't be done. believe it or not, i never recieved one collections call from them in the three months.
the right of offset gives a financial institution the right to take funds on deposit to apply to delinquent loans that originate in that institution.
can my mortgage company withdrawl money from my checking if im delinquent on my mortgage and are the same bank?
As your account is with the same bank, the lender may withdraw your monthly payments from your checking account.