0
Can bank come after your savings account if you foreclose on your home?
Wiki User
∙ 14y ago
no, not if it is a 1st mortgage. because of the mortgage tax relief act of 2007
Wiki User
∙ 13y ago
Wiki User
∙ 14y agoYou can not foreclose on your home. Someone else must foreclose on your home! Whoever holds the mortgage does the foreclosing.
Add your answer:
Earn +20 pts
Does a bank account come with a savings account?
There are many different banks out there today. Different banks offer different things. Some bank accounts come with a savings account. It really depends on what one is looking for when associating with a bank.
What is a savings or deposit account?
It is a bank account where a person will make regular, monthly savings to build up capital. The savings or deposit account will not normally come with a card or cheque book and the savings in it will attract a higher rate of interest than a normal bank account. However you lose this high rate of interest if you withdraw your money suddenly or before a certain period,
What is a or s account?
It is a bank account where a person will make regular, monthly savings to build up capital. The savings or deposit account will not normally come with a card or cheque book and the savings in it will attract a higher rate of interest than a normal bank account. However you lose this high rate of interest if you withdraw your money suddenly or before a certain period,
Are savings account card considered debit cards?
no generally a savings account does not come with a card unless it is an ATM
How do you write an authorization letter to act on behalf?
I have a savings account in your bank on my name ( savings bank A/C No ---). I want to collect my ATM card .As i am working in -------------- , i am not able to come and collect the same in person .Therefore I hereby authorise my wife Mrs ------to come and collect it on my behalf . I will appreciate your help in this case .
Is it possible to get a bank account if you have poor credit?
Yes it is possible to get a bank account if you have poor credit. Most banks do not check your credit in order to open an account. However, if you have had delinquent bank accounts in the past, your name may come up in the "Chex" system, which might present a problem. Generally savings accounts are easier to get than checking accounts, but even with horrible credit, you can usually still get some kind of checking account.
I am divorced i have a quit claim deed on my ex's house she is going into foreclosure can the bank come after me?
If you didn't sign the mortgage then the bank can't come after you for payment in the case of a default. However, they can foreclose on the mortgage and take possession of the property notwithstanding the quitclaim deed to you.
How do you divide a joint bank account?
A joint bank account is something that is owned/controlled by more than one person. So, to divide a joint bank account, the joint account holders have to come to an agreement as to who will be the sole owner of the account. Then, they must visit the bank and submit a written request. The bank will change the account to a single owned account after receiving the No Objection Letter from the other holders of the account.
Why Open a Personal Savings Account?
A personal savings account is a bank account in which a consumer stores his or her money in order to earn interest on their savings. Depending on the bank, consumers are usually required to keep a minimum amount of money in their savings account at all times, but may spend the rest as they see fit.Owning a personal savings account is beneficial for two main reasons. The first is that it gives consumers the opportunity to earn interest on their money. The second reason is because it gives consumers a save place to store their cash. Instead of keeping money where it may be lost or stolen, a savings account keeps money safe. Banks will also insure the contents of a savings account for up to $100,000.How to Get the Most Out of Your Personal Savings AccountAfter you open a personal savings account, it is important to begin an effective savings plan. While it may be difficult to avoid saving money instead of spending it, a savings account can be a life saver in a financial emergency. Having a reasonable amount of money to fall back on in case you lose your job or get into an accident, may make it possible to get through these hard times unscathed.A personal savings plan is a plan that outlines how much money you will reasonably be able to save each month. To develop this plan, consider how much money that you owe in bills each month, compared to your monthly income after taxes. The money that is left over is your monthly spending cash, which you probably spend on food, gas, and entertainment. This is iwhere your savings should come from. If you seem to be living paycheck to paycheck, with no room for savings, then it is time to take a look at your spending habits. There is always ways to save additional money, whether it means you must clip coupons or cook your meals at home.Also, it is important to remember that the more money you have in your personal savings account, the more money that you will earn in interest. This interest is essentially free money that the bank is giving you for choosing them to hold your savings. Therefore, a personal savings account is not just an important and convenient account to have, but one that earns you some extra cash, without an effort at all on your part.
How do you opening bank account?
By going to the bank and asking them to help you set up one come on now!
How do you open a bank account?
By going to the bank and asking them to help you set up one come on now!
How are payable on death bank accounts handled after the account owner's death and is the executor involved in the settlement?
A payable on death account bypasses probate and is paid over directly to the beneficiary by the bank. They do not come under the control of the executor.A payable on death account bypasses probate and is paid over directly to the beneficiary by the bank. They do not come under the control of the executor.A payable on death account bypasses probate and is paid over directly to the beneficiary by the bank. They do not come under the control of the executor.A payable on death account bypasses probate and is paid over directly to the beneficiary by the bank. They do not come under the control of the executor.
