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Forums » Short Sales » Bank Went into homeowners account and took money

Bank Went into homeowners account and took money Subscribe to Bank Went into homeowners account and took money

4 posts by 4 users

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Dale T.

Real Estate Investor · Novi, Michigan


Forum_avatar_avatar-logan1304

Jul 08 '11, 05:16 PM

I have done Butt loads of short sales and this one is new to me. The Homeowner is with PNC and he has an account (savings or Checking). PNC took out every penny form his account which was not much but is was $1100 that he needed. Bank took out all of it and sent him a letter telling him that they took it. The Mortgage is with PNC and he Banks With PNC. so they go to do a short sale and then clean him out. I have never even heard of a bank doing this.


Stephanie Anson

Real Estate Broker · Apex, North Carolina


Forum_avatar_avatar-sray

Jul 08 '11, 05:59 PM

I use to work for a bank and yes they have the right to take out money owed to the bank from a current account. it is called "right of offset". If they overdraw an acct or do not pay a loan, they can take money out of another acct to cover the fee.


Marc Freislinger

Real Estate Investor


Forum_avatar_avatar-icompugodi

Jul 08 '11, 06:29 PM

She's right. The banks have this written into their loan agreements. Never bank the same place you borrow from.


Pat Bahn

Real Estate Investor


Forum_avatar_avatar-patb2009

Jul 08 '11, 08:17 PM

banks are vampires.

I once had a bank seize my savngs account because my dad owed them money.
they said he was my guardian, so, legally he had influence on my account
so they could seize it.




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