refinancing~lied to! In Texas
I tried to refinace my home through my current lender. I distincly told the broker that I wanted a fixed 30 loan. He had me sign a paper so that if the rates dropped before closing he would lock me in. He said the whole process would take about 45 days, that they were backed up due to the current rates being low. As time passed I would check with him to see how we were doing. At one point he called me to say they were missing some paper work, I told him that I did give him copies, which he ended up finding in my folder and turned them in. 1st red flag. When the rates dropped to the lowest in Nov. I immediately called him and left repeated voice mails, no response. Second red flag. When he finally called back he said his whole office had to attend a conference out of state, and he lost alot of money being gone. I lost on the lock in. When the approved papers came in the mail, and said ARM loan I immediately called him again stating that I wanted a fixed rate, questioning the ARM. He said don't worry people change the paper work right up to the time of closing, he would take care of it then. I was due to close in about 29 days. When rates started to move, he called me at work and wanted me to make a decision to lock in under the ARM within 30 sec. when I began to ask questions on the ARM he became very frustrated, and said he needed to tend to other customers. When I decide what to do I should call him back. I then called his supervisor 3 times, which he finally had someone else call me. Come to find out I couldn't be approved on a fixed being recently divorced, and could not get approved on my own income alone. The original broker also left me a voice mail telling me he was very appauled with me that I had contacted his supervisor, that he had been repremanded. So after two months of going back and forth, being lied to. I am stuck.
My question is can I do anything about them string me along, thinking I was approved at a lower rate and house payment to surrive as a single mom in my home with children? |