What to do if a bank withdrew money from an account of mine for money owing from a loan?

Get Legal Help Today

 Secured with SHA-256 Encryption

What to do if a bank withdrew money from an account of mine for money owing from a loan?

I live in a home my mother owned, it is financed through the bank I have my checking account with. I have been making payments while I try to sell the home but fell a month behind. The bank withdrew the money out of my account for the payment even though there is no automatic withdrawal nor is my name on the mortgage. Is this legal?

Asked on December 30, 2012 under Real Estate Law, Missouri

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

From what you have written absent a written agreement signed by you allowing the financial institution to withdraw money from your own bank account to service the debt load on the subject property, what was done was clearly improper. I suggest that you speak with the bank manager to discuss how the bank will remedy the matter.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption