grabbing your checking account..

[floridian]

i will be 30 days late on my mortgage payment on the first of january... the lawyer said to walk away... i had my checking account in the same bank and closed it...

after reading here about cross collateralization and the like, i remembered that im an authorized signer on my elderly moms account, for emergencies at the same bank...

i told her to take my name off her account, but the bank wouldnt let her without opening a new account and closing the old one... they said to wait until her SS check is deposited in a week to close it or she might have problems getting her money from SS..

i wonder if shes in danger of having money removed from her account this soon in the game, due to my name being on her account?...

[justbroke]

It may be in danger. However, they aren't supposed to touch accounts which receive SS payments and the like. But that never stopped them.

Tough situation... and I don't have any real good advice that hasn't already been given (like closing mom's account).

[floridian]

it would really take a low-life to take an old ladies pension from her, when she has nothing to do with it... it just bothers me, that my actions are causing her stress...

[justbroke]

it would really take a low-life to take an old ladies pension from her, when she has nothing to do with it... it just bothers me, that my actions are causing her stress...

Trust me... those low lifes are hired by collection agencies on purpose.

[anime-chicka]

I had been advised that because I was a POA on my mother's account, there was no way that the money could be touched. All the money she gets is from SS, DFAS and AT&T death benefits after my father's passing in 2005.

I wasn't questioned about it in my 341, but I do have proof of the money being hers, as well as where the bulk of all her money was going to each month, for nursing care fees. The nursing home even sent me a statement of payment proving that they were receiving the funds.

[floridian]

im just worried about the mortgage bank snatching it before she changes her account on the third of the month..

[jribe]

im just worried about the mortgage bank snatching it before she changes her account on the third of the month..

if you live close enough to your mom- have both of you go in to the bank and request a "relationship change". If you both sign the forms that you will be removed as a joint owner- and your mother will then become a sole owner- they don't need to close the account and give a new bank account number. Most banks have a sales quota (ex: new account opens) which is likely why they are giving you that BS. I work for a major bank and if both people are in the branch to sign the required paperwork it's fine. You should get off that account ASAP, because they could take the payments out if you are still a joint owner. Good luck

[Tbornetun]

Wait a minute... is your mom's bank the same as the mortgage company? If not, then they can't do anything anyway, you are only a month behind.

Duh, you already said the same bank, nevermind. If they take it they will have to put it back, it just might be a pain in the ass.

[magyar123]

As jribe mentioned - go visit your bank with your mom and sign the paperwork removing your name from the account.
BUT do not open your own account in/with the same bank. Go with a completely different bank.

[AngelinaCatHub]

I had a similar situation, and there is no such thing as a designated signer on a checking account. If you are on it, you own it 100% as an undivided ownership with your Mom. They WOULD NOT remove my name, and the account had to be closed. I argued with two banks about this. Both banks would only close the account and renew the other party only. 'Hub

[floridian]

i just hope that only being 30 days late, they wouldnt resort to taking an old ladies pension check...if the bank holds off until the third, she can take her money out and open a new one.... being that its all disability, i would think that would hard to sustain, considering that ive never made a transaction on her account.....

latest development: i tried to pull her account up on my computer and i cant get into it. they have zapped the pass word.. i guess this is because she had conversation with them...

[junker]

at BofA i was auhorized signer on roommates acct,the statements came in both our names, since i had a judgement, i removed myself as signer, and became poa on her acct, didnt have to close acct, just had to give my debit card back. since being poa doesnt require a ss number, i am now not listed on statements, and am not tied to that acct.but can use acct as my own.

[floridian]

if you live close enough to your mom- have both of you go in to the bank and request a "relationship change". If you both sign the forms that you will be removed as a joint owner- and your mother will then become a sole owner- they don't need to close the account and give a new bank account number. Most banks have a sales quota (ex: new account opens) which is likely why they are giving you that BS. I work for a major bank and if both people are in the branch to sign the required paperwork it's fine. You should get off that account ASAP, because they could take the payments out if you are still a joint owner. Good luck

thats what i did this morning... mom and i signed papers at the bank that removes my name from the account.....
so, it appears that all is well and she doesnt have to buy new checks..