Look After Your Cash In A Short Sale
Welcome back and thank you for visiting us today on our website. This whole blog is dedicated to the home owner who is exploring the options on what you want to do with your house. Whether you are in a position where you can no longer afford it or are merely no longer want to owe as much as you do against your home and want to strategically default, this blog is for you. We hope that you find a lot of wonderful content here on our blog.
Today we want to center on a subject that has become awfully focal in the last few months. It deals with your money and the cash that you have in your bank account. There are lenders out there that are going into property owner bank accounts and taking funds to satisfy deliquencies on their house.
Please know that the mortgage you took out on your home is secured against your home and your home only. The exception to that rule is with the bank accounts that are with the same lender that has your mortgage. For example, if you have a checking account with Chase and your mortgage is additionally with Chase, Chase can take funds from your checking account to pay your mortgage.
We have had many customers approach us about this exact topic. If you are considering a short sale or have missed a payment or two, we would suggest that you shift your checking account to another bank. Close up your accounts with a lender that has your mortgage.
Because of the checking and savings account agreements they have with you, they preserve the privilege to take funds from your checking account.
Give us a call if you would like more information on this topic or any other subject pertaining to short sales and your options. We have fruitfully completed more than a few hundred short sales over the past few years and we would be thankful for the opportunity to converse with you today.
Get more information on selling your home from Kevin and Fred at My First Short Sale by the Short Sale Specialists of Arizona
Filed under Foreclosures by .