[sickoflibs]

RE :”So, your okay with you go down to the bank. Say you have $100,000 in savings and want $15,000 to BLOW. You hand them the withdrawal slip and they say NO! You say I want my $15k to blow in Vegas. They say NO. You cannot have it. Go away. S”

In the case of the US the Fed creates new $$$ from nothing to handle bank runs, which pretty much prevents them,

But in England they cant just create the currency so if they don't prevent a bank run then many customers will be screwed for good. "So your telling me your okay with this policy??? Really???" HAHA

Banks make $$$ by loaning it out. They cant just call a homeowner and demand full payment on a mortgage on the spot.

[lacrew]

“Banks make $$$ by loaning it out. They cant just call a homeowner and demand full payment on a mortgage on the spot.”

True - but that’s probably spelled out in a contract. If the bank changes the rules on me, without my agreeing to it...I’m upset.

[PowderMonkey]

"They cant just call a homeowner and demand full payment on a mortgage on the spot."

I don't know about your mortgage agreement, but mine have always included a provision specifically stating the lender can call in the note, demanding payment in full at any time, for any violation of the terms. The only thing that prevents it is the understanding it's bad for business, so they generally hold off on "going nuclear," but they can do it. You are correct. Banks make $$$ by loaning it out. They aren't in the real estate business, but they can and will drop the hammer when the time comes. My last zip cope was filled with over 600 homes on the auction block within a 2-mile radius of my front door. Hundreds more were in the banks' shadow inventory awaiting processing.