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jinda4224 · Joined: 24 Jun 2008 Posts: 2 2.03 Dollars($)

I have a mortgage in Georgia which I am going to have to go into foreclosue, I cannot afford the payments any longer. Can the mortgage company go into my checking account and take the amount of payments without permission?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi jinda.

Welcome to the forum.

I don't think the mortgage company can take out money from your checking account for the monthly payments without your permission. But why are you willing to go for foreclosure. It will have a huge negative affect on your credit. Why don't you talk with your lender and try to avoid the foreclosure. There are different ways to avoid foreclosure. Please have a look at 17 ways to protect yourself from the foreclosure trap

Hope it helps.

Feel free to ask if you have any further questions.

Best of luck,
Larry

brian1 · Posted: Wed Jun 25, 2008 8:39 pm Post subject:

No
They may be able to garnish wages if they get a judgement.
I doubt it will go that far..banks dont usually spend good money chasing bad money (money they may never see)

Brian

smaildaytoday · Joined: 15 Oct 2007 Posts: 52 0.00 Dollars($)

If the mortgage company get the permission from a court, it maybe happen that the company will take out money from your checking account for the monthly payments.

Guest

I have my checking account with the same bank that has my mortgage. I am 2 months behind and started the process with an agency to modify the loan.They are still close after the holidays. The same bank wrote a remotely created check and withdrew my checking account into a minus $1576 without authorization. Is this legal. What can I do?

gmakerley · Posted: Tue Jan 05, 2010 2:56 pm Post subject:

bond i answered your question somewhere yesterday or the day before.

Guest

My second mortgage is with Wachovia . Our home is in Georgia and we bank with Wachovia. I am 3 months behind on my second mortgage. The day my paycheck hit, they removed the three months payment. Everyone on this site says this can't be done. Believe it or not, I never recieved one collections call from them in the three months.

gmakerley · Posted: Thu Jan 28, 2010 10:21 pm Post subject:

the right of offset gives a financial institution the right to take funds on deposit to apply to delinquent loans that originate in that institution.

Guest

can my mortgage company withdrawl money from my checking if im delinquent on my mortgage and are the same bank?

Posted: Fri May 14, 2010 2:12 am Post subject:

As your account is with the same bank, the lender may withdraw your monthly payments from your checking account.

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can mortgage company attatch my checking account