QUESTION
Will the bank take my tax refund from me if I have late mortgage payments?
Asked on Feb 28th, 2012 on Foreclosures - Nevada
More details to this question:
The tax refund is going to the direct deposit. I have late mortgage payments due with same bank. Can they take my refund from me?
2 ANSWERS
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It really depends. Mostly they cannot but if your loan provides the bank with setoff rights, it could. This is why you don't keep your money with people that lend you money.
Answered on Mar 02nd, 2012 at 7:27 PM
In most cases, no. There are some unusual situations where the mortgage loan is part of the same account as your other bank accounts with that lender, and in that situation it would be possible. If you opened the accounts at different times, then you're safe, and the bank would have no such right.
Answered on Mar 01st, 2012 at 1:25 PM