Legal Question in Banking Law in Michigan
Just a quick simple question. I am behind now on my home mortgage. I have no intent of catching it up. In fact, I intend to just let my home go to the mortgage company. My mortgage Company happens also to be my Bank (where I have two checking accounts with them). Can my Bank go into my checking accounts and take monies from me in order to collect what I owe them. Doing so without my consent nor forwarning that they will be doing so? The reason I ask....I need to know whether I should close my accounts with my Bank in order to prevent such a thing happening. Thank you for any insight. Most appreciated!
Asked on 9/25/09, 7:52 am
1 Answer from Attorneys
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