Bank Blog

I have been receiving these statements showing FAIR MARKET VALUE of investments at these levels for over 12 years. Now I am being told that due to ???? the trust is only worth 1/2 of what they have been reporting to me on my trust statements.

The Trustee is a Large National Bank and has informed me that they are RESIGNING as Trustee.

Do I accept this explanation ? and is there any liability for sending me these incorrect statements for 12+yrs? and is it normal to Resign when the beneficiary begins to ask questions about their trust?

By: Robert A

How does the bank determine what is “fair market value” when foreclosing on a home. Do they just put it up for auction and whatever the highest bid is makes it the fair market value or is there an actual appraisal done? Can the bank just sell the home for any price and sue me for the difference? I owe $415,000 and the house is worth about that. I have survived as long as possible and have run out of money. I would hope that the bank cannot just sell the house $300,000 and stick me for the difference. Any answers would be greatly appreciated.

By: raven05