I was involved in the purchase of a house and I ended up not buying the house becuase the appraisal came in at less the the contract purchase price. I had a VA clause in the contract that said if it appraised less than the purchase price, then I didnt have to buy the house and I wasnt entitled to lose any earnest money. It turns out that I got denied anyway for the loan. The problem I have with my mortagage broker is that he 1. told the seller of the house that I was approved even after I was sent a denial letter from the broker.
2. the broker sent me the denial letter 2 months after the closing date around June 06(letter said"date denied March 06" .
3. the broker was contacted by the seller of the house (who is actually sueing me for not buying the house) to ask if i got approved for the loan , broker told him i was approved and also gave my income and employment info to the seller & told seller to go after me for everything that I have
4.broker lied- said i forged denial letter
2007-11-25 11:48:12 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Generally speaking, when I post responses here, I find that the buyer expected more than that to which they were entitled. In your case, it seems that your mortgage broker has violated every rule I can imagine. The guy sounds like a real incompetent.
I would gather as much documentation as I could, and then seek the advice of a qualified attorney. Your mortgage broker is about as unethical and incompetent as they come.
2007-11-25 13:34:47 · answer #1 · answered by acermill 7 · 0⤊ 0⤋
Here is Washington I would tell you to also call DFI ( dept of financial Inst) and report that broker/loan officer ASAP!
He can NOT disclose personal infomation to the seller about you.
He was not in compliance with his turn down letter.
And he sounds like he is just trying to save his *** because he was caught in a lie and doesnt expect you to prove him wrong!
2007-11-25 14:48:30 · answer #2 · answered by queenvwr 2 · 0⤊ 0⤋
You have every reason to sue your broker. Don't worry...just take on a first step and you will find yourself winning at the end. Broker's can twist the whole thing but fight for your right. Brokers...will make you broke unless you fight for your right. It is strongly advisable to practise your right.
2007-11-25 11:55:07 · answer #3 · answered by Anonymous · 0⤊ 0⤋
hire an attorney ... yes, you can sue for the misrepresentations IF you are damaged.
If the seller sues you, or has failed to return your deposit, you'll want the attorney to handle it.
as to suing for disclosing your personal data inappropriately, you'll need an attorney to make the case in court that this act damaged you.
GL
2007-11-25 11:54:31 · answer #4 · answered by Spock (rhp) 7 · 0⤊ 0⤋
yes actualy i had the same thing happen when i bought my house the guys that i rented to or whatever gave me 750 and they ended up sewing me for about 3000$ you can prbaly get more if the guy doesnt have a good lawyer like i did lol
2016-05-25 22:49:46 · answer #5 · answered by ? 3 · 0⤊ 0⤋
You raise some good points in your question.
2016-08-26 08:08:26 · answer #6 · answered by cheryl 4 · 0⤊ 0⤋