Quote:
Originally Posted by luv$
Again... no.
Banks don't close loans that are secured unless they're not being paid and they need to utilize the collateral to pay the loan. Period.
There's nothing devious or fraudulent about that formula. I understand you may *think* you're right but I can assure you that you are not.
My SO is currently on the way to managing her bank after being a commercial, residential and personal loan officer for several years. I thought about what you said and doublechecked just to make sure I'm not sounding like an ass after my rebuttal and got it confirmed.
I know you're a smart guy and I rarely argue on the boards but when I'm right I'm going to defend it.
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You can defend it all you like. That won't change the fact that you are wrong. I've personally shut down hundreds if not 1000+ credit accounts for doing this.
The policy of the bank that your SO works for may allow such things but that doesn't mean everybody does.