Bait and Switch - I am trying to find legal precedence on mortgage loan bait and switch.?
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Purchased a home w/ Richmond Homebuilder's w/ the stipulation to use their loan company, American Home Mortgage. On 9/06 the loan officer qualified us as our credit score is up on the 800. 3 wks before closing she asked for more documentations w/c were faxed to her. Ten days before closing, she claimed she did not received the documents. Was sent again to her, w/ copies to her processor located in Colorado. As business travel was in schedule, I emailed her that for the duration of my trip I will not be able to correspond or provide anymore documents if she needs them. The night before my travel her email came in w/ a rate of 6.25% for the 1st and 8.5% for the second loan and asked to sign the document so that she can locked the rate. It was signed, emailed, and faxed to her the same night. Monday, day of settlement, rates were higher than what was signed. She claimed it's 'coz of our high debt ratio. Wasn't this a bait and switch violation? Any federal and MD state laws applies?
Bait and Switch - I am trying to find legal precedence on mortgage loan bait and switch.?FBI investigate cases of mortgage fraud. Bait and switch.
Bait and Switch - I am trying to find legal precedence on mortgage loan bait and switch.?You need to consult a lawyer
Bait and Switch - I am trying to find legal precedence on mortgage loan bait and switch.?I鈥檓 sorry you are having this problem. Many people go on-line to post legal questions and end up getting legal opinions from people who are not attorneys. This happens because money or lack of is a factor. I am not an attorney so I am not qualified to tell you about the law but I am in the legal services industry and I can tell you that you do have a legal situation that should be brought to the attention of a qualified attorney who is licensed in your state.
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