Are Safety Deposit Boxes Safe From Mortgage Lenders?

[breezyday]

[AngelinaCatHub]

A safety deposit box is totally safe from a Creditor. No one can enter it without a Court Order. However, you MUST declare it in your bk. I would not put anything in one that you should not wish to talk about.

As one poster said, what place can you rent less expensive than what you have?

In bk, truth is of the utmost importance as you are dealing with the Feds. No matter how screwed up you are, honesty will be most respected above than ‘games’ you would be tempted to play. Please read more here and you will be guided on the right path. ‘Hub

[breezyday]

[Flamingo]

You sound very angry and I am sorry you are going through all you are going through. Many people are struggling now and many never thought they would be in the position they are now. AngelinaCatHub above is a marvelous poster on here and he is just trying to be forthright with you with facts, especially if you were planning on filing. I think what he meant by "screwed up" meant your finances, not yourselves.

Anyway, to answer your question, since you can no longer afford your house and you cannot sell it, you can save money for moving outside of of a bank account by utilizing a fireproof safe in your house. A safety deposit box costs money each month and it sounds like you are strapped for cash. But as AngelinaCatHub stated, a safety deposit box cannot be touched. Then there is the old term about hiding money in a mattress which I what I am sure many people are doing in this economy instead of investing it.

If you were going to file Bankruptcy and had a safety deposit box, you would be asked, of course if you had one and it's contents. It is easily traceable.

[breezyday]

Of course I am angry!
First of all we do not have a toxic mortgage maddog!

Hub why shall I not be upset with your statement?
(Please read more here and you will be guided on the right path)
Tell that to my husband face who is a Vietnam & Gulf War Veteran!
We are not trying to abuse the system, we have try and try to do the right thing!
Hate when people are judge as a group!

PS: Safety deposit box only costs $21.00 a YEAR at our bank anyway!

[cdloanmod]

For many people, safe deposit boxes at banks provide a safe place to store those valuables outside of the home.
After all, file cabinets and even fire-resistant cases in your house are still susceptible to intense fires, water damage,
and even theft.Its safe But, did you know that safe deposit boxes may be susceptible as well?
Make sure you inform your family members and your attorney about your safe deposit box! Otherwise,
the contents may revert to the state when you pass away.

[junker]

i had a safety deposit box for quite a while, no problems, but when and if someone gets a judgement against you, and or/if they hall you in for a debtors exam, it could be a problem. the bank uses your ss number to open one, so it could be tracable that way, its best if you can open it in someone elses name, and put you on as a key holder. if we arent talking about a LOT of cash, i would consider prepaid debit cards like netspend, you can load them up and they arent traceable. get two or three if necessary.

[CompTweaker]

Since you have your savings with a different bank than with the mortgage lender, then you can just leave your funds there. You will have to first be sued and then, if they win, they will get a judgement and thats when they can try to go after your savings. You should be fine for now.
Good luck.

[Flamingo]

Of course I am angry!
First of all we do not have a toxic mortgage maddog!

Hub why shall I not be upset with your statement?
(Please read more here and you will be guided on the right path)
Tell that to my husband face who is a Vietnam & Gulf War Veteran!
We are not trying to abuse the system, we have try and try to do the right thing!
Hate when people are judge as a group!

PS: Safety deposit box only costs $21.00 a YEAR at our bank anyway!

I'm sorry but I fail to see in this thread how anyone here as a group or by themselves is judging you for anything. You do state in your original post..."I’m not anywhere near BK, so not trying to hide money doing a BK. Just from our mortgage lender." And then you ask folks on here... "Wondering what I shall do about my savings in the bank to keep the bank that holds our mortgage from seeing it." When you did get some decent/informative responses/information, you launched off into an angry tirade. Please thank your hubby for serving but there are folks on here also that have served as your hubby in just as bad financial trouble and leaning on military service has nothing to do with trying to figure out finances and what to do. Having financial difficulties and making decisions sends many folks into emotions where they have never been before and you need to realize no one on here in this thread is judging you for anything and you are taking informative, informational postings as being judgmental. If you are having financial problems, you are having financial problems. Advice you will receive on here can help you get out of those problems if you realize it is meant to help you not be judgmental to you.

Best of luck to you and your hubby in your decisions and I hope all works out for you in getting past these bad times.

[breezyday]

Really sorry if I sounded rude, I know there's no excuse, just blame it for being so stressed out!

We are just people who lived a very modest life style and to find our self in such a situation is just embarrassing.

But most of you know the feeling and understand!

So please forgive.