Internet Loan Sites

[hoops5]

I recently applied for a home equity loan via the Internet! According to the legal disclosure a representative from this local institution was to contact me, to discuss my application within two business days.

Yesterday, two weeks later, I received notice that I was denied credit based on delinquent past or present credit obligations and Insufficient value or type of collateral. I have several questions:

What rights do I have, if I believe that they used misleading or misrepresented themselves in effort to have me apply for credit. “Misleading or misrepresenting themselves by offering interest rates 2 to 3% below the standard market.”

 

[Jack Mevorach, Esq.]

Do you really want to incur legal fees to pursue this? Just look for another loan and forget it.