My wife wants to take $50,000 cash equity out of our home. When the loan closes and the funds are in our account, can we withdraw the whole amount in cash at our bank? Does the bank need advance notice or paperwork from us?
That's a question you need to ask your bank manager about. Every bank has its own cash limits, which it uses to minimize the losses in the event of a robbery. Whether your bank branch can have $50,000 cash available for you is up to the individual bank's practices. Don't be surprised if your bank suggests strongly that you withdraw the funds by check or official bank check, so that you aren't carrying around so much cash.
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That's a question you need to ask your bank manager about. Every bank has its own cash limits, which it uses to minimize the losses in the event of a robbery. Whether your bank branch can have $50,000 cash available for you is up to the individual bank's practices. Don't be surprised if your bank suggests strongly that you withdraw the funds by check or official bank check, so that you aren't carrying around so much cash.
