| Promissory letter by Mortgage company
What is the name of your state? California
In December 2005, I bought a condo in LA. At the time, my credit was close to bad (because of a bankruptcy) and I got into a 6 months libor program with a 5 years pre-payment penalty. However, at the time, I was promised by my lending agent that I could refinance at least 9 months later at no cost and with the pre-payment penalty fee waived.
Now, almost 2 years later, my credit is much better and I wish to refinance under the promise they made. However, the lending agent who worked with me as well as his manager got fired by the lending company because they made such promises to their clients. The company is now telling me that they cannot waive the pre-payment penalty fee and that the closing costs for refinancing will be about $4,000, bringing me to a refinancing fee of close to $8,000 (with the penalty fee). We are VERY FAR from the promise they made at the time.
I have a letter from the manager of that time that states his promise. He sent it to me as an attachment to the email, with the company logo and his name and title, but did not sign it as he did not scan it. Would that letter still hold in court? Can I sue them to get them to respect their promise?
What are my options? Please help...
Last edited by borreman; 05-05-2007 at 07:58 PM.
| 
05-05-2007, 07:55 PM
Linear Mode
