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Reply to "Should we be pulling our cash? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Op-where are you located?[/quote] In Loudoun. My neighbor works at a Wells Fargo branch in Loudoun. [b]Just in case the systems go down, we now have enough to cover our mortgage, utilities, and necessities for 2 months.[/b] DH decided to take that amount out this morning. We don't bank with Wells Fargo, but DH did report to me that there were lots of people waiting at our bank for it to open this morning at 9. And do I believe in FDIC? If you'd asked me Jan. 19, I'd have laughed in your face and said, "of course!" But today? Now? It's hard to believe in anything with Federal in the name with him in charge. [/quote] Banking "systems are down," so you are contemplating paying cash for your mortgage and utilities? How precisely is that going to work? Practicalities aside, what is the purpose? Say you don't pay the mortgage for two straight months because "the systems go down" - nothing happens. You pay when you are able. You won't be the only person to whom this happens, and it's likely there won't be a penalty. I'm not sure which is dumber, worrying about this in the first place, or your proposed "solution."[/quote]
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