My question involves a mortgage in the state of: Texas
Hello,
I have just went through 3 months of hell. I applied for a mortgage to purchase a home at the cost of $65,500. I was pre-approved and was given a closing date of 9/5/14. All throughout the month of august we worked on the inspection, repairs, etc. Almost daily I would call, or email asking what else did I need to do, each time they replied nothing we were doing great, and on schedule to close in September as planned, You can give your landlord and section 8 councilor notice you should be ready to move at closing. I was on section 8, but was paying most of the rent set by my land lord (rent house was 975....I paid 750) I had gotten a better job and was making more money. I thought that instead of paying a high rent I would purchase this house, the mortgage in the house was 621. On August 15, the appraisal was ordered. In my mind I was moving. I was told everything was on schedule all the way till September 3rd, then suddenly there was a problem, we were not closing, and needed another week. Meanwhile the landlord needed me out. He had new tenants needing to move in. On 9/15 I moved my family to a motel. While in the motel I found documents saying the underwriter denied me, on the same day they the appraisal request was sent. I was devastated. My two kids, our dogs, and I were in a motel. I was chipping away at the savings I had for the closing of the house. The Realtor talked with the broker, she was assured it was a mistake, he was going to send my file to another underwriter, and I would definitely be closing early October. So the Realtor asked the seller if I could move in. the seller allowed my family and I to move in and I was to pay him rent. On September 28th we moved in. The broker would call and tell me I just needed to do this, that or the other, it was the last thing, and we should be closing early next week. This went on for the whole month of October. These were requests like “pay this account off and close it" and I did. Week after week I fulfilled every request. Finally, he came back and said the underwriter will only approve you if you have 8 months reserves. There was no way. I had 2 or 3 months. Between living in the motel for two weeks, the storage unit, and renting a moving truck twice, all I had left was the closing, deposit, and 2 or 3 months reserves. I was so upset. I talked to a different broker to see what he could do. When I gave him my credit score and financial information, he told me that I should have never been told I would be approved. My mid-score wasn't bad, but too low. So, I moved my kids yet again out of the house I was going to buy, we moved to a trailer. I am now paying $1,000 in rent plus utilities. I am a single parent, I get very little child support for the kids.
So in a nutshell, I was fine where I was living in a nice established neighborhood. I was lied to and led to believe that I could purchase a house. When the reality was I didn't stand a chance. Now everything is messed up. I would have been fine if he had been honest from the beginning and told me I wasn't ready to purchase yet. Before this mess started, I lived in a great neighborhood, with great neighbors. I was just looking to do better. I was looking to do better for my kids. Now we are worse off.
What I would like to know if I have any grounds for legal action. Jumping to legal action is not something I normally do. I really have no clue if I can, or where to start. If you can advise me, just please be honest. I also have the files from the mortgage company on my case.
Hello,
I have just went through 3 months of hell. I applied for a mortgage to purchase a home at the cost of $65,500. I was pre-approved and was given a closing date of 9/5/14. All throughout the month of august we worked on the inspection, repairs, etc. Almost daily I would call, or email asking what else did I need to do, each time they replied nothing we were doing great, and on schedule to close in September as planned, You can give your landlord and section 8 councilor notice you should be ready to move at closing. I was on section 8, but was paying most of the rent set by my land lord (rent house was 975....I paid 750) I had gotten a better job and was making more money. I thought that instead of paying a high rent I would purchase this house, the mortgage in the house was 621. On August 15, the appraisal was ordered. In my mind I was moving. I was told everything was on schedule all the way till September 3rd, then suddenly there was a problem, we were not closing, and needed another week. Meanwhile the landlord needed me out. He had new tenants needing to move in. On 9/15 I moved my family to a motel. While in the motel I found documents saying the underwriter denied me, on the same day they the appraisal request was sent. I was devastated. My two kids, our dogs, and I were in a motel. I was chipping away at the savings I had for the closing of the house. The Realtor talked with the broker, she was assured it was a mistake, he was going to send my file to another underwriter, and I would definitely be closing early October. So the Realtor asked the seller if I could move in. the seller allowed my family and I to move in and I was to pay him rent. On September 28th we moved in. The broker would call and tell me I just needed to do this, that or the other, it was the last thing, and we should be closing early next week. This went on for the whole month of October. These were requests like “pay this account off and close it" and I did. Week after week I fulfilled every request. Finally, he came back and said the underwriter will only approve you if you have 8 months reserves. There was no way. I had 2 or 3 months. Between living in the motel for two weeks, the storage unit, and renting a moving truck twice, all I had left was the closing, deposit, and 2 or 3 months reserves. I was so upset. I talked to a different broker to see what he could do. When I gave him my credit score and financial information, he told me that I should have never been told I would be approved. My mid-score wasn't bad, but too low. So, I moved my kids yet again out of the house I was going to buy, we moved to a trailer. I am now paying $1,000 in rent plus utilities. I am a single parent, I get very little child support for the kids.
So in a nutshell, I was fine where I was living in a nice established neighborhood. I was lied to and led to believe that I could purchase a house. When the reality was I didn't stand a chance. Now everything is messed up. I would have been fine if he had been honest from the beginning and told me I wasn't ready to purchase yet. Before this mess started, I lived in a great neighborhood, with great neighbors. I was just looking to do better. I was looking to do better for my kids. Now we are worse off.
What I would like to know if I have any grounds for legal action. Jumping to legal action is not something I normally do. I really have no clue if I can, or where to start. If you can advise me, just please be honest. I also have the files from the mortgage company on my case.
Mortgages: I Just Need Advice
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