Finance astray

[homie]

I recently posted a scenario reguarding the purchase of a new home. I received a response from the home guru who seemed to miss the picture ( no insult intended ). I had a new home constructed and with the lender we signed a document that we were to cosign for every draw made by the builder. Well we had problems, the lender failed to inforce the document, all draws were made without our signature, and we've closed now living in the home. Do we have any legal avenues for the lender failing to look out for our interest. In Florida

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T Cadwell

 

[JETX]

You might have a civil case against the financer due to his 'failure of fiduciary responsibility', but only to the extent of your damages.

For example, if the builder failed to fulfill his contractual obligation at a particular milestone, and the financer released your funds to him without your approval, you would have a case against him for your damages. However, if you have not been damaged, and the financer released funds without permission, you probably would have a hard time proving that you were damaged.

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Steve Halket
Judgment Recovery of Houston
[email protected]
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This is my PERSONAL OPINION and is not legal advice! Consult your local attorney for your specific situation and laws!