Bank attached wrong account

[[email protected]]

My brother inlaw purchased a building & I co-signed 12 years ago. I was never advised that he did not make several payments at the end of the original morgage. The bank attached and held the funds in my 88 year old mothers accounts because I am a trustee on her account, she was never notified of their actions until they bounced her Insurance, and rent. I have never accessed her account, Her social security checks are directly deposited into her account - she is very upset and frightened because they cut off her ability to support herself. My mother had nothing to do with the morgage - she happens to use the same bank and has banked with this bank for ever. What recourse do we have?

 

[Tracey]

Wow! The bank's really screwed up this time! You need to look up your state's banking regulations regarding wrongful attachment of funds. I think the penalties will be substantial. When you know the penalties, present the bank with a written demand that they pay your mother the full penalties or you'll sue them and report them to the state and federal banking commissions.

At the very least, you can sue the bank for conversion of property.

------------------
This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.