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Loan origination issues - any good claims here?
Attorneys: Are there any real estate lawyers on here with experience with
what looks like some kind of attempted "bait and switch" lending? Loan was
supposed to be zero down, then became a 1% down, then 24 hours before
closing, lender says whoops need to take into account wife's student loans.
(Husband was the only one taking out the loan.) Everything gets delayed.
Then lender brings borrower in and offers "horrible loan now" or "less
horrible loan" in 3 days. Client is already having to incur costs to stay
at a hotel. Client opts for horrible loan now. Horrible loan doesn't fund
timely and clients go to other lender after incurring out of pocket costs
of about $10K for delays, missed work, hotels. etc. Lender is offering $1K
for damages in exchange for release of liability. What claims does this
client have against lender? Is it enough to pursue with a lawyer, or just
settle and get on with life? Client didn't ultimately take a loan with this
lender.
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
*Central District of California & District of Idaho* - Consumer Bankruptcy
Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
Attorneys: Are there any real estate lawyers on here with experience with what looks like some kind of attempted "bait and switch" lending? Loan was supposed to be zero down, then became a 1% down, then 24 hours before closing, lender says whoops need to take into account wife's student loans. (Husband was the only one taking out the loan.) Everything gets delayed. Then lender brings borrower in and offers "horrible loan now" or "less horrible loan" in 3 days. Client is already having to incur costs to stay at a hotel. Client opts
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