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Can I sue this bank for lawyer costs and emotional distress?I'm attempting to buy a second home and tried to get a loan with TD

Greenville, NY |

Bank. I went through the normal loan process. In July, I received confirmation that I was approved for mortgage and a closing date was determined. I recieved a signed letter and several calls and e-mails confirming. A week later they had put my mortgage at hold and postponed a closing date because they realized that we weren't selling our current home. They had assumed we were selling our home thus my income might not be high enough even though it is. No matter, two days ago they approved it again only to have them to call and say it was cancelled only to have it approved again with closing date settled only to have it flat out denied today. They want us to reapply with $10,000 less loan which is about $30 less month which is complete bullshit as I can pay, but the point is can I sue?

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Attorney answers 5


I have to agree with the others. Just remember, in general-NY is a very tough state for "ED" (Emotional Distress) on anything, except maybe if the victim is in the Zone of Danger or someone suffers when a loved one's body parts and/or funeral is screwed up (like replacing parts with PVC pipe-true story, body falling out in the middle of the service, etc.). Unfortunately, many harms are committeed for which there is no legal remuneration. Way back when, during law school, a little boy was killed by a badly care for tree falling on him at his day camp. The professor (a high-level judge) said maybe, the defendants might throw the parents $50K to make it go away quietly (after all-who would let their kids go there?). He had no "value" under the law; in fact, just the opposite. It would cost $250K+ to raise him. The whole class was horrified but it is true, unfortunately.


I doubt you can sue and assuming you could, you could not get damages for emotional distress. Consult a real estate lawyer if you want to pursue this.

I am a former federal and State prosecutor and now handle criminal defense and personal injury/civil rights cases. Feel free to check out my web site and contact me at (212) 385-8015 or via email at The above answer is for informational purposes only and not meant as legal advice.



What can we sue them for if anything?


Sue for what? What are your actual damages? Based on what you've written, I don't think you have a case, but consult a NY business lawyer to be sure.

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It is not possible to answer your question without knowing more about the terms of your loan commitment and the reason the bank refused to close. Since you are asking whether you can sue for your attorney's fees, I assume you were represented by an attorney in connection with your loan. If so, that person is in the best position to tell you whether or not you have a legitimate claim against the Bank which is worth pursuing.
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You can't sue for emotional distress. It's unlikely you could prove enough damages even if you can come up with a legal theory to support them. You can, however, file a complaint with the NYS Dept of Financial Services

My answer to your question is for general purposes only and does not establish an attorney-client relationship,

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