C
chick7t7
Guest
What is the name of your state?What is the name of your state? California
On 5/12 we applied for a cash out refinance. Daily, the broker called needing more information for the lender.
Finally on 06/15 the broker called and said we had been aproved.
The next day the broker called and said the lender made a mistake and we were declined.
After scrambling to find a new loan, on 06/17 we received papers dated for 06/16 (the very day we were declined) from the "Executive Vice President/Chief Operating President congratulating us on our loan approval. With it was a Good-Faith Estimate, Truth in Lending, Impound Authorization, Discrimation Act, Merge Report, and Servicing Disclosure.
Does the lender have some sort of legal obligation to fulfill this loan?
His reason for approving us then declining us was because he did not know we were in the foreclosure process. T
The only reason why we were getting this loan.
Now 6 weeks later the offers I had from other lenders are no longer available.
Nothing has changed from the day we applied to date. We have the income, and LTV @79%.
Now I am left with nothing. Possibly no home and loose my business. Does the lender have a legal obligation to fulfill this loan?
Thanks for advice.
On 5/12 we applied for a cash out refinance. Daily, the broker called needing more information for the lender.
Finally on 06/15 the broker called and said we had been aproved.
The next day the broker called and said the lender made a mistake and we were declined.
After scrambling to find a new loan, on 06/17 we received papers dated for 06/16 (the very day we were declined) from the "Executive Vice President/Chief Operating President congratulating us on our loan approval. With it was a Good-Faith Estimate, Truth in Lending, Impound Authorization, Discrimation Act, Merge Report, and Servicing Disclosure.
Does the lender have some sort of legal obligation to fulfill this loan?
His reason for approving us then declining us was because he did not know we were in the foreclosure process. T
The only reason why we were getting this loan.
Now 6 weeks later the offers I had from other lenders are no longer available.
Nothing has changed from the day we applied to date. We have the income, and LTV @79%.
Now I am left with nothing. Possibly no home and loose my business. Does the lender have a legal obligation to fulfill this loan?
Thanks for advice.