California. In early Oct. I made an offer to buy house from executor of trust No broker was involved. I contacted my bank, signed papers and was approved for loan and rate was locked for 30 days with a 2 week extension.Credit report had Fico in high 700's. I gave $5000 into escrow for earnest money and seller and I signed necessary documents.
Later, I found out my bank is NOT the underwriter and do not do portfolio loans; they were selling loan to private investors in Mid-west somewhere and there was a line item on my credit report that they were questioning.
Line item was note that a piece of property once owned by ex-husband and me had been involved in BK.That is all it says. We were already divorced but house still part of Reserved Issues. House never IN BK and I bought house from ex and have all documentations, deed transfers, quit claims, new title, court orders, etc. Payments NEVER late.I live in that house.
It is now mid Dec. and loan still not approved by investors despite all the documentation.I have moved up to hounding VP of bank but investors do not respond. I will not get that rate again and lost chance to go to another bank. So far, VP has been keeping seller calm but I am nervous wreck. What legal recourse do I have, if any?
I had refinanced the house and did not have any problem so this is really "out of the blue". Ex is dead 4 yrs and still giving me grief.
Later, I found out my bank is NOT the underwriter and do not do portfolio loans; they were selling loan to private investors in Mid-west somewhere and there was a line item on my credit report that they were questioning.
Line item was note that a piece of property once owned by ex-husband and me had been involved in BK.That is all it says. We were already divorced but house still part of Reserved Issues. House never IN BK and I bought house from ex and have all documentations, deed transfers, quit claims, new title, court orders, etc. Payments NEVER late.I live in that house.
It is now mid Dec. and loan still not approved by investors despite all the documentation.I have moved up to hounding VP of bank but investors do not respond. I will not get that rate again and lost chance to go to another bank. So far, VP has been keeping seller calm but I am nervous wreck. What legal recourse do I have, if any?
I had refinanced the house and did not have any problem so this is really "out of the blue". Ex is dead 4 yrs and still giving me grief.