It is a Wachovia CAP Brokerage Account that has a value of $22,920 but the Securities Market Value is $68,881...in other words I have borrowed about $46,000 from the account (this includes interest of course).
I really made a mistake in dropping 50 grand into this about 8 years ago and have a number of other retirement money resources set-up for me now.
I guess what I'm saying is I would very happily rather have the amont I owe in margin loans be partially paid by the account value - and then just make payments on the remaining balance...can this be done?
I would like to close this account down - What are the options typically in this situation?
Thanks in advance for any answers.