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Can the bank take money currently in our bank account while trying to process a Deed in lieu?

Posted on: 04th Jun, 2009 01:30 pm
The bank we have our margage through has contacted us in regards to deeding the property back to them, but is wanting all of our bank records. Is this normal? can they use the information to take funds from our account? I have heard that any money in your account can be taken by the bank. What do you advise?
elender69

Welcome to the forum.

I am not sure if the bank can do that with out your agreement.

One more option woudl be to move all your money to a different accoutn and provide the details of the current account.

Good luck and feel free to ask.
Posted on: 04th Jun, 2009 09:14 pm
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