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What if you get a letter from the bank telling you to withdraw all your money and cough up the value of the mortgage in a week or be evicted?
by heartbeats 6y ago
What if you get a letter from the bank telling you to withdraw all your money and cough up the value of the mortgage in a week or be evicted?
- ilikehurdles 6y agoAnyone who would sign a contract that would give a bank that level of free reign over the terms of your mortgage is a pretty big fool.
- heartbeats 6y agoPretty much all personal bank accounts have a unilateral termination clause. I would be surprised to see a mortgage where the bank can't totally wreck you if they feel like it. Anyhow, you still need a bank account to get paid. If you can only work jobs that pay you in cash and don't need any access to bank accounts or the Internet themselves, that rules out 99% of businesses that could employ you.
- ilikehurdles 6y agohttps://www.web24.news/u/2020/04/can-the-bank-unilaterally-change-the-conditions-of-your-account.html https://www.web24.news/u/2020/04/can-the-bank-unilaterally-c...
- heartbeats 6y agoThat is about changing an agreement. The bank can fire you as a customer, pursuant to the existing agreement, usually without specifying a reason. This has happened in the past.
- ilikehurdles 6y agoOf course they can fire you. They cannot force you to pay up your full mortgage tomorrow or be evicted.