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Maine Banking Questions & Answers
1 Answer | Asked in Banking, Contracts and Real Estate Law for Maine on
Q: Who pays when the bank forgets to deduct utilities from the sale of a house?

We closed on the sale of our house August 3, 2020. I called the utility company to find out what the final utility payment would be and was told the payment amount would be given to the realtor to be deducted from the proceeds of the house. The bank only deducted $100.00, not the total amount of... Read more »

Fred Bopp III
Fred Bopp III answered on Sep 16, 2020

Did you receive an extra $374.50 in sale proceeds because the bank only deducted $100.00, not the total amount of $474.50, from the sale proceeds? If so, then you have to pay the $374.50. That puts all parties where they should have been. Plus, your closing documents probably contain language... Read more »

1 Answer | Asked in Banking, Contracts and Real Estate Law for Maine on
Q: My boyfriend told me that he bought a house through a bank with installments I don’t know if the bank owns the house

Or the bank just gave him a loan and then he told me that the bank sold it to a brokerage company and he will continue paying to the company and then the company asked for higher price for the house and I don’t think it’s a true story

Fred Bopp III
Fred Bopp III answered on Sep 1, 2019

I am sorry, but your question does not contain enough factual information to allow me to answer it.

2 Answers | Asked in Banking for Maine on
Q: I had a fraudulent charge ( somebody took money out online as cash advance), I got message from Bank Of America.

I went into the bank second day and reported, they investigated, first I got a letter said I am not responsible, then I got another letter said I am responsible for it, plus he open checking on my name and deposited $1000 into the account and Then transferred money out. It took the bank along time... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 3, 2019

It is very unclear what exactly happened here; I cannot see where you have told us how much money was taken out of your account by a cash advance; and I am still uncertain if there was more than one account involved.

In any even, banks can close a client's account whenever they want...
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1 Answer | Asked in Banking for Maine on
Q: A payee was appointed to manage my finances because I was scammed. How do I get control of my finances again?

Over a period of 1 1/2 years I lost everything to scammers. Several organizations were involved and saved me from eviction and auto repossession. A payee was appointed. It has been 5 months and my bills are almost caught back up. I want to run my own life but my mental health physician says he... Read more »

Fred Bopp III
Fred Bopp III answered on Jan 1, 2019

Hello,

I am not sure this is a banking question but, in any event, it would be helpful to have some additional information. Who is the payee that is handling all of your finances currently? How was that person appointed? Have you spoken to him or her about whether you can again control...
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1 Answer | Asked in Banking for Maine on
Q: What are the rules on limits to finance charges for credit card?
Fred Bopp III
Fred Bopp III answered on Nov 10, 2018

Please see the discussion of the Credit Card Accountability Responsibility and Disclosure Act of 2009 ("CARD Act") on page 15 of the document found at this link: https://www.maine.gov/pfr/consumercredit/documents/2015CreditCardpubl.pdf

Also, Maine law does not limit the interest...
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1 Answer | Asked in Banking for Maine on
Q: Does moving out of state have any effect on my rights as a bank account holder (like do banking laws drastically differ

from state to state?

Elliott R. Teel Esq
Elliott R. Teel Esq answered on May 1, 2017

Most consumer banking laws are federal. There will be variations from state to state, but not significant for most people, with some differences if it is a commercial account or loan. A major exception is foreclosure procedure, which is more a property law than financial, and will vary... Read more »

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