Double Secret Insider Information . . . If YOU Are Short Selling
August 19th, 2010 . by Jon ModeneIt’s secret.
It’s above top secret.
But if you are doing a short sale you need to change where your checking and savings accounts are. Banks are now using language in their checking and savings policies that you have agreed to when you opened your account to PULL MONEY OUT of accounts that are not linked to your mortgage.
Now, in polite society, this is called STEALING.
Or THEFT.
In bank terms it is called the “Right of Offset”. You can go here and do a search for that term if you want to get real mad.
But the average consumer does not have a copy of what they signed, can’t remember, and probably can’t hire a lawyer to look at all their agreements.
So – the simple solution that I am telling ALL my short selling clients is this: MOVE YOUR MONEY TO A TOTALLY DIFFERENT BANK.
Simple.
Sweet.
Ends the drama.
I won’t name any banks – I am assuming some are not doing this. But some are. And the solution to protect you is as simple as the pain of the unauthorized monetary removal is great if it happens to you!


















