How can I be reimbursed for monies lost due to negligence from a mortgage banker?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How can I be reimbursed for monies lost due to negligence from a mortgage banker?
I was pre approved for a home loan by a mortgage banker. She gave me a pre-qual letter and told me I was to go shopping for a home with a loan amount of 90k. I found one for 83k, put an offer in and had it accepted. I paid my $100 option fee and also got a home inspection done for $250. 3 Days into my option period she emails me, my real estate agent, and the sellers agent stating she made a mistake in her calculation and my dti was too high to qualify for the home. I have given notice at my apartment and have lost $ 350, not to mention, time, gas, and everyone elses time, gas, and effort. I have asked for a reimbursement of funds, but was told no, by her, and the bank. What else can I do?
Asked on July 29, 2012 under Real Estate Law, Texas
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
From what you have written it appears that the mortgage banker was negligent with the information provided you which you relied to your detriment in incurring costs that you would normally not have expended but for the erroneous advice.
The way to get resolution since the mortgage broker and her employer will not simply reimburse you what you incurred would be to file a small claims action against them in the county court house where you reside.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.