Opening a Bank Account: What You Need to Know Why Open a bank account? Your money will be kept safe from theft, damage or loss and as long as the bank is insured by the Federal Deposit Insurance Company (FDIC), your accounts will be insured for up to $250,000.
Although most home loans contain a due-on-sale or acceleration clause that allows a lender to demand immediate and full payment upon transfer or sale of the home, transfers due to death are exempt. This means your heirs would take on your home loan with the same interest rate and payment you have.
Bank of America tries to seize widow’s home while forgetting to mention that her loan was insured "Too big" to give a rat’s ass Laura Coleman Biggs and her experience with Bank of America is.