We were referred by a friend who had just closed 6 months prior with said mortgage lender. Throughout the process (6 months or so) we talked to her and her staff about our need to qualify for down payment assistance on our first home purchase. We were told our credit scores needed to increase in order to qualify for assistance that would not need to be paid back. We worked hard to improve our scores to where she said they needed to be and eventually were approved. We found a house, put an offer and offer was accepted. On day of closing we find out the down payment assistance will need to be paid off if we EVER sell house only after asking why we were signing paperwork that said there was a second loan. This was not disclosed to us at any time before then.
Also, we closed on Jan. 6th. We inquired with lender about closing before the 1st of January so that we could file a Homestead exemption for our taxes. Lender assured us we had until April to file it. My fiancé and I told her we had heard that you need to file before the first in order to get the exemption and she said that was not correct and that we would qualify for it. That was not the case. Tax office said other
I am sorry that you were treated in such a manner, especially for your home. The mortgage companies are under very strict regulations that they must adhere to. You need to find a lawyer that specializes in handling such matters. I am not so sure this should be listed under foreclosure, seems more a banking or consumer protection class so I hope you do not mind if I change the class for you. Best of luck.
I am hopeful my answer is "HELPFUL" and/or is a good answer?" If so, I would appreciate you for noting same. Thank you. The information contained herein is not to be construed as legal advice. The questioner should seek independent legal advice from a qualified attorney after establishing a proper business relationship. My answer is not intended to answer specific details on a particular claim, but rather give a general outline of some of the procedures a person may encounter. The information is only for education and not intended to create legal representative of anyone.
I agree with Attorney Warren. A consumer rights/banking attorney would need to go through all of the documents to advise you on the merits of your claim. One issue that often comes up is the amount of the harm all of this has caused you in terms of money; i.e., what are your total economic damages. Many times, the damages will need to be quite significant to offset the time, effort and cost of litigation. Again, this is something that an attorney can visit with you about in more detail. I wish you all the best.
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