Bank Went into homeowners account and took money

[Dale T.]

I have done Butt loads of short sales and this one is new to me. The Homeowner is with PNC and he has an account (savings or Checking). PNC took out every penny form his account which was not much but is was $1100 that he needed. Bank took out all of it and sent him a letter telling him that they took it. The Mortgage is with PNC and he Banks With PNC. so they go to do a short sale and then clean him out. I have never even heard of a bank doing this.

[Stephanie Anson]

I use to work for a bank and yes they have the right to take out money owed to the bank from a current account. it is called "right of offset". If they overdraw an acct or do not pay a loan, they can take money out of another acct to cover the fee.