VA Refinace Company lied through their teeth

[draketungsten]

North Carolina

I applied for a VA streamline refinance, got all the paperwork going and was on my way to a closing this week. I got a reassurance from the agent saying I could skip my mortgage payments and not have to worry about making a payment until the first of the year. I even asked him are you sure and he said yes definitely since we were ready to close and the papers were due back from underwriting soon. SO I skipped a payment. Today I get a call saying an appraiser had come and looked at my house and appraised it for less that what I currently owe and they would not be able to do the streamline. Then he blatantly lied and told me he never said I could skip my payments. Now I am without a refinance deal and I'm a month behind on a mortgage I have paid religiously.. Do I have any legal recourse?

 

[Zigner]

North Carolina

I applied for a VA streamline refinance, got all the paperwork going and was on my way to a closing this week. I got a reassurance from the agent saying I could skip my mortgage payments and not have to worry about making a payment until the first of the year. I even asked him are you sure and he said yes definitely since we were ready to close and the papers were due back from underwriting soon. SO I skipped a payment. Today I get a call saying an appraiser had come and looked at my house and appraised it for less that what I currently owe and they would not be able to do the streamline. Then he blatantly lied and told me he never said I could skip my payments. Now I am without a refinance deal and I'm a month behind on a mortgage I have paid religiously.. Do I have any legal recourse?

Yes - bring your mortgage up to date.

 

[FlyingRon]

Mortgage brokers are some of the worst lying scum. I have never understood why they tell people who are in imminent refinance to skip payments on the existing loan.

There's not much you can do. The advice was stupid, but you can't really do anything about it.