How safe is your own money in your own Bank Account?

If you deposit money in to a Bank or Credit Union that is the same as your Mortgage holder you likely have a banking conflict. You have assets where you also have liabilities and the "right of offset" may apply. Simply put, if you have funds available in your bank account and for some reason do not pay your mortgage, the banking institution will have the legal right to freeze and seize any funds available to offset monies due to them.

As permitted by state and feral law, Banks have the "right of offset" and may use it to collect on a delinquent Mortgage payment(s). If you are in a hardship and bank with the same company your mortgage is with you should take time to look into the banks policy or practices with regard to "right of offset". It is not very difficult to change who you bank with, but the effort to get your money back if the bank exercises their right of offset may be difficult or impossible