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#2233602 - 03/24/20 08:35 PM right of setoff death
Multiple Hats Offline
100 Club
Joined: Jul 2008
Posts: 213
Forget state laws and regulations. Are there any federal laws or regulations that would keep a bank from applying money from a deceased account holders checking and savings and applying that towards his/her mortgage loan? The loan isn't past due or under default. Death isn't listed as a default item on the note or deed of trust. I know Reg Z has some setoff restrictions with credit cards.

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Lending Compliance
#2233614 - 03/24/20 11:06 PM Re: right of setoff death Multiple Hats
RockChucker, CAMS Offline
Diamond Poster
Joined: Jul 2013
Posts: 1,700
The Country
If the loan isn't past due I don't see how this would apply?
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