[Tracey D]

guarantor without the loan being in foreclosure? Can a bank take money from a loan guarantor without the loan being in foreclosure?In the state of Georgia, if a loan is in default at the bank for non payment but is not yet in foreclosure, can the bank take the cosigners money from their account and apply it to the principal of the loan without notifying them? No accounts of the cosigners is a security for the loan. Only the property itself is the collateral. Please help! The rear age amount is $1600.00. The bank has taken $11,000.00!