Refinance

FLORIDA

This is a letter sent to my motgage broker that will expalin the situation. This was sent a month ago. I have not gotten a response. Do I have a case??

This is a letter I sent to a mortgage broker and will better explain the situation. Please advise what can be done. Thank you.

In October of 2002 I contacted you to help me refinance my home which I had purchased in July of the same year.
one of your reps came to my home and we talked about the possibilities of the refinance He had some doubt as to being able to do it as I had purchased my home only 3 Months before. He called you to ask if it was possible and was advised it was. I gave him a check for over $300 .

We tried working on this for a couple of months and was told that we were very close to making a deal with a lender then we didn’t have a deal then we did again then we didn’t.
He said that it couldn’t be done because the property was not “seasoned”

I somewhat understood but was baffled at the fact that I was told from the beginning that it could be done.I tried to understand and put it to rest with a promise from your rep. that my fee was valid for 1 year.

Two months later I received a call from him telling me that he found a lender, that I would pay the same mortgage as I had currently but with the possibility of cashing out.

I advised him I would be going on vacation and he said we would close as soon as I came back. I left him a voice mail to ask him if I should pay the February mortgage. He left me a message (that I saved and have) stating that I shouldn’t because this was a sure thing and that I would not have to pay the first payment until April with the new lender.
I spent the mortgage money for Feb and March on my vacation only to come back and be told that your company was no longer working with that lender.
I was in a bind because I had spent the mortgage money and needed to refi now. He advised me he would try to get it done right away with another lender.

We were at the end of February and nothing had been done and I had a 30-day late on my credit report. He told me he found someone and that he needed my bank statements from two accounts for the past year, I advised him this would cost me money and he said that, that money would be given back to me (over $150)
So I sent him the statements and waited. I was constantly calling to see if there was anything done I expressed my concern to him and to you. I let you know that I no longer had the money to cover those mortgage payments
I advised this to your agent he said that I should have at least 2 months reserve in my account at all times and I told him that I did at the time he called me but I spent it due to his advise.
I have a second 30 day on my mortgage, my credit is ruined, I had to pay late fees and make payment arrangements with my current lender and I was up to drop the Mortgage Insurance ($200 a month), with my current lender that now I can’t do because of the late payments.
the last I heard was that you guys were still working on it and that it was in underwriting, this was almost a Month ago. I have not heard a word since.
I have done all that I was advised, and asked for loan counseling (that is your job) and was ill counseled I am very upset because you assumed that I would just not call back and it would go away.
I called your company in the first place is because you announced 2 point4% rates and that’s what initially I was told I was pre qualified to get. I ended up trying to push for the same rate I had now but I was so behind on my mortgage I was willing to take it.
I think at this time I am entitled to all expenses incurred during this period $300.00+, $150.00+, PMI for the next year ($2,400.00) and mortgage for Feb. and March (roughly $4,400.00). In addition to this due to my now lower credit score my two of my credit card companies have raised the interest rate on me by 5% I have a balance of $8.000.00 on that card, you do the math. I only wanted to remind you I didn’t called you back. YOU CALLED ME.

[HomeGuru]

Originally posted by diawolo
FLORIDA

This is a letter sent to my motgage broker that will expalin the situation. This was sent a month ago. I have not gotten a response. Do I have a case??

This is a letter I sent to a mortgage broker and will better explain the situation. Please advise what can be done. Thank you.

In October of 2002 I contacted you to help me refinance my home which I had purchased in July of the same year.
one of your reps came to my home and we talked about the possibilities of the refinance He had some doubt as to being able to do it as I had purchased my home only 3 Months before. He called you to ask if it was possible and was advised it was. I gave him a check for over $300 .

We tried working on this for a couple of months and was told that we were very close to making a deal with a lender then we didn’t have a deal then we did again then we didn’t.
He said that it couldn’t be done because the property was not “seasoned”

I somewhat understood but was baffled at the fact that I was told from the beginning that it could be done.I tried to understand and put it to rest with a promise from your rep. that my fee was valid for 1 year.

Two months later I received a call from him telling me that he found a lender, that I would pay the same mortgage as I had currently but with the possibility of cashing out.

I advised him I would be going on vacation and he said we would close as soon as I came back. I left him a voice mail to ask him if I should pay the February mortgage. He left me a message (that I saved and have) stating that I shouldn’t because this was a sure thing and that I would not have to pay the first payment until April with the new lender.
I spent the mortgage money for Feb and March on my vacation only to come back and be told that your company was no longer working with that lender.
I was in a bind because I had spent the mortgage money and needed to refi now. He advised me he would try to get it done right away with another lender.

We were at the end of February and nothing had been done and I had a 30-day late on my credit report. He told me he found someone and that he needed my bank statements from two accounts for the past year, I advised him this would cost me money and he said that, that money would be given back to me (over $150)
So I sent him the statements and waited. I was constantly calling to see if there was anything done I expressed my concern to him and to you. I let you know that I no longer had the money to cover those mortgage payments
I advised this to your agent he said that I should have at least 2 months reserve in my account at all times and I told him that I did at the time he called me but I spent it due to his advise.
I have a second 30 day on my mortgage, my credit is ruined, I had to pay late fees and make payment arrangements with my current lender and I was up to drop the Mortgage Insurance ($200 a month), with my current lender that now I can’t do because of the late payments.
the last I heard was that you guys were still working on it and that it was in underwriting, this was almost a Month ago. I have not heard a word since.
I have done all that I was advised, and asked for loan counseling (that is your job) and was ill counseled I am very upset because you assumed that I would just not call back and it would go away.
I called your company in the first place is because you announced 2 point4% rates and that’s what initially I was told I was pre qualified to get. I ended up trying to push for the same rate I had now but I was so behind on my mortgage I was willing to take it.
I think at this time I am entitled to all expenses incurred during this period $300.00+, $150.00+, PMI for the next year ($2,400.00) and mortgage for Feb. and March (roughly $4,400.00). In addition to this due to my now lower credit score my two of my credit card companies have raised the interest rate on me by 5% I have a balance of $8.000.00 on that card, you do the math. I only wanted to remind you I didn’t called you back. YOU CALLED ME.

duplicate post.