This might seem like such common sense, but let me state it explicitly as Joel the Realtor recently had his checking and savings account pillaged by Wells Fargo. If you are facing foreclosure, if you are unable to make payments, please please please do NOT leave money in the same bank that you are facing foreclosure with. Recently, a local Realtor had Wells Fargo wipe out his checking and savings account. They were the second note on the account, and according to Wells Fargo:
“State and federal law gives financial institutions the right to claim unpaid and past due amounts owed to them…. This is a common industry practice.”
So again, it might seem like common sense to us all, but let us learn from Joel’s lesson.
People need to know and it would be sad for someone who had a good reason like a job loss or a medical issue. You wake up one morning and go to purchase something like gas or food and your check card is declined.