If you do not even have one months mortgage balance in your checking account, you are running way too thin anyway.

 - Then negotiate to buy the house for the "current unpaid balance of the mortgage" this will mean your purchase price goes down over time.- be clear that you will get the house sold, but will take 1-3 years of you renting and covering their rent in the mean  time.Forget (mostly) finding high equity deals on the FSBO lists.  

How is the user using the account - to buy everyday items, to take a cash loan, transfer balances? 

But i spoke with a real estate attorney and he suggested that i should ask them since if the bank finds out they will require payment in full for the balance of the mortgage.

But, on balance, leverage used properly is a magnificent tool in RE!

You might be able to use annual statement + transaction history from Dec 30th to present to make it work.If the funds cannot be sourced adequately, what often happens (as a sort of compromise alternative to "loan denied") is that the will pretend they never saw the money and subtract that amount from your current balances.

When Adam turned 71, his IRA balance was $289,627.His neighbor Bob, who was the same age as Adam, also got his first full time job at age 20.  

I decided to use the existing subcontractors partially because they appeared to be doing good work and also because there were balances from the old GC. 

I write down  in my Excel Spreadsheet that they paid for the month and how much balance is remaining. 

Another option: Get a credit card with zero interest (and do a balance transfer).Find a company (RDC Capital, local bank/credit union (smaller bank)) that will give you line of credit (commercial) and pay back those loans with the LOC, which should be fixed after the "draw" period (20/30yr if possible). 3Hope this helps.