Posted By: Heather Cherepkai
I have a checking account in the same bank that has my mortgage, if I default on paying my mortgage can that bank take the money out of my checking account?
This is a very common concern. The bank cannot remove funds from your checking account without your approval even if you default on your mortgage payments. The mortgage provides the bank with a specific course of action regarding a default. If you are in default or think you are heading there, it is likely the bank will file a foreclosure action. A foreclosure case can be litigated and if you would like to learn more about foreclosure litigation and what our firm can do for you, please contact my office and schedule a free consultation.