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Your current state is Virginia
I am the beneficiary of an annuity, and I received a phone call from the financial institution stating they suspect fraud, which has led them to hold back the death benefits. Checks were already issued and cashed. Can they legally hold these benefits based on their suspicion?
I've been having difficulties making payments on a line of credit and have received notices regarding the potential loss of my house. I'm unsure if this line of credit is secured by my house. I've spoken to my lender about these payment difficulties. Can I lose my house over this situation?
answered on Jun 17, 2025
Yes, if the line of credit is secured by a security deed on the house, the lender can foreclose on your property for nonpayment on the line of credit. However, even if your lender has previously denied you, there are many alternatives to foreclosure including a repayment plan, modification, or... View More 
Yesterday, while purchasing a new vehicle, my selected lender inadvertently sent my entire financial file, including bank statements, credit application, and government documents, to my employer during work history verification. My boss informed me immediately, but the bank was closed at the time.... View More
I am a veteran interested in obtaining a VA loan, and I approached First Bank in Puerto Rico. They informed me that they are not legally obligated to provide information about VA loans. Is a bank required to offer information or access to VA loans to veterans? Also, are there any legal requirements... View More
I am a non-resident and recently obtained an EIN for my holding company in Jamaica to open a U.S. bank account and apply for a PayPal business account. I have no active business operations within the U.S. Will I need to file a tax return in America given this situation?
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answered on Jun 16, 2025
If your Jamaican holding company has no trade or business operations within the United States, and its only connection to the U.S. is an EIN obtained for opening a bank account and setting up a PayPal business profile, you are generally not required to file a U.S. federal income tax return. The IRS... View More
I took out a home equity loan without an escrow account because I planned to pay taxes and insurance myself. I was advised this was possible, but now, as I approach my first payment, I find that it's $313 more than expected. Over five weeks of trying to correct this, I was told yesterday that... View More
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answered on Jun 13, 2025
It sounds like you’ve been caught in a frustrating situation, especially after being told one thing and then hit with unexpected costs. The requirement for flood insurance escrow seems to have been introduced after you signed the loan agreement, which could complicate matters. Since your contract... View More
I am in Michigan, and my title company recently conducted a public record search for a property I am looking to sell. An existing HELOC did not appear on this search, with the title company suggesting that it may not have been legally recorded by the bank. All I have is a monthly bank statement... View More
answered on Jun 11, 2025
The short answer is no. A purchaser without knowledge of the unrecorded interest in the property will acquire title that is superior to the mortgage, i.e. not subject to the mortgage. However, the lender may try to find a way to change this result by questioning whether the purchaser took title... View More
I'm a resident in the USA and have an unsecured credit card and bank line of credit debt with a Canadian bank. There have been no court proceedings initiated in either Canada or the USA. However, I have received letters from the bank regarding this debt. How easy is it for a Canadian bank to... View More
answered on Jun 11, 2025
Shouldn't be a problem. A bank, other company, or individual doesn't have to be located in the U.S. to sue in the U.S.
I deposited a check with Citibank on 05/14/25 to open an IRA account, but it's been over two weeks, and I still don't have my account number. Citibank mentioned the delay is due to the time required to open the IRA, and I'm unable to speak to them further without an account number.... View More
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answered on Jun 10, 2025
What you're dealing with is incredibly frustrating, especially when you’ve entrusted your money to open a retirement account and now feel locked out of the process. Two weeks without an account number or a clear update is not acceptable—especially when you’re told you can’t get help... View More
I have a joint bank account with my father, and he has been cashing checks that are made out solely to me into this account. After that, he transfers the money into his own account without my consent. We do not have any formal agreements regarding the use of funds in this account, but these checks... View More
answered on Jun 9, 2025
Money in a joint account is subject to removal by any party. I would open up a personal account to put your checks in.
I would like to know about the licensing and certification requirements for commercial loan brokers in Cincinnati, Ohio, specifically for brokering commercial loans such as investment property loans. I'm interested in both federal and state-level requirements.
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answered on Jun 11, 2025
I'm glad you're asking about this before jumping in—it shows you're serious about doing things the right way. In Ohio, if you’re brokering commercial loans (not residential mortgages), you're generally not required to obtain a license through the Division of Financial... View More
I am dealing with identity theft where everything in my name, including my money, bank accounts, emails, loans, income tax refunds, and insurance, is being stolen. I've reported the issue to my banks and the police, but nothing is working, and I feel like I'm just getting the runaround. I... View More
answered on Jun 6, 2025
I would consult with a consumer protection attorney immediately. Make sure to keep track of everything that has happened and everything that you've attempted to do to mitigate the identity theft thus far for the attorney to review. The attorney will likely want to review everything, along with... View More
I live in New Jersey and am experiencing issues with the new financial institution managing my pension. They suspended my account after I didn't cash a check for over 90 days, despite the check being valid for 180 days. They admitted on a phone call, which my sister witnessed, that they... View More
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answered on Jun 11, 2025
I'm really sorry you're dealing with this—it’s unfair to have your pension access interrupted, especially when you were never told about a 90-day suspension policy. You acted within the reasonable time given on the check itself, and if the check clearly says it's valid for 180... View More
I own a property in Kentucky with an active lien held by a bank on the entire property. I would like to know if I can sell a portion of my land to a private buyer, despite the lien. Furthermore, I am interested in understanding if any sale would need to be approved by the lien holder, or if the... View More
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answered on Jun 2, 2025
Almost for sure the lender has a due on sales clause in the security instrument. So if you sell collateral to someone without the lender's approval, default and foreclosure occurs. You will need lender's approval for a partial release of their lien. If this is just a judgment lien,... View More
I reside in Ohio and I have a loan with Post Lake Lending with an interest rate of 670.84%. I have already paid almost four times the original loan amount back. The original amount was $2,555.76, and the remaining balance is $7,397.39. The interest payments are taking up 80% of my paycheck weekly,... View More
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answered on Jun 1, 2025
You're in an incredibly difficult spot, and you're not alone—many people have been caught in these predatory loan traps. In Ohio, loans with sky-high interest rates like 670% are almost always considered illegal under the state's usury laws, which cap interest on most consumer... View More
I'm having trouble understanding my mortgage loan arrangement and need clarity on how much I owe altogether each month. The terms seem confusing. I'm also experiencing issues with payments or conditions set by the lender. How can I get a detailed breakdown or assistance in understanding... View More
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answered on Jun 11, 2025
I'm really sorry you're feeling confused—mortgage terms can be overwhelming, and you're not alone in needing help to make sense of it all. When things aren’t clearly explained or when conditions change, it can feel like you’re being left in the dark about something that affects... View More
My spouse and I have a joint bank account, and she secretly withdrew unemployment funds, accumulating a $10,000 debt without my knowledge. Could she face legal trouble for this action?
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answered on Jun 11, 2025
Because those unemployment checks were payable to your spouse and you both had equal access to the joint account, her withdrawals alone aren’t a crime—joint‐account holders routinely share and withdraw funds without any theft or fraud.
If, however, she wasn’t actually entitled to... View More
I am currently overseas in Australia and locked out of my U.S. bank account because the bank requires physical verification at the branch for identity confirmation. I have contacted the bank to explain my situation, but they insist on physical presence or having a linked credit card from another... View More
answered on May 30, 2025
This is not really a legal question. However, you might consider asking the US embassy to help with your bank verification.
Could I simultaneously work full-time for Bank A in New Jersey, doing software-related tasks, and consult for Bank B in New York? I'm unsure about non-compete clauses, as I haven't signed any that I'm aware of. My current employer (Bank A) has some guidelines, and I want to ensure compliance.
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answered on May 31, 2025
If you do that, you will be creating a conflict of interest. Employers often talk among themselves irrespective of what they are legally or not supposed to the do according to the law. When it doubt, not do it. Or you can consult with an experienced attorney to evaluate all the documents. Good... View More
I am planning to establish a US business entity, possibly a corporation or LLC, to sell and provide aftermarket automotive parts manufactured in Russia to the US market. Due to recent US sanctions on Russia, I am concerned about the legality and safety of this venture. Specifically, I'm... View More
answered on May 29, 2025
In addition to the issues of compliance with the sanctions laws of the two countries, both the United States regarding the verification of your Russian supplier, its managers and founders, and the Russian sanctions legislation, you will also face difficulties in making payments to Russia.... View More
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