Breach of Oral Contract

[billmcdnj]

Sorry if I cant delete this from other section I posted in wrog forum I think ... had been involved in getting a mortgage with home imporvements involved in Dec 08 lender said it wasdone and I could close the following week (never happened) at this same time contractor involved wanted to start some work he advised to go ahead as loan was complete .... this process went on with more and more appraiseals ordered at my expense until Jan 25th at which time he told me all was finished and I can skip my next 2 mortgage payments he also spoke on the phone with the contractor tellling him the loan was finished and he too would see his funds in 2 weeks .... still nothing I ended up contaction the ceo of company which led me to Compliance person at bank after I explained the additional appraisals and requests to call them to ask for higher values the bankl went into CYA mode and stopped returning calls I was also told loan was NG I would like to sue for breach or oral contarct I have numerous e mails as well as contractor who was also did $10000.00 of work and sent me scrambling to get financing to cover after being duped my so called bank. I have tried to contact law firms and it seems nobody is interested in this I dont know if I could do it myslef but I am going to try below is what I want to sue for

2 mortgage payments I was told I could skip
Hud report I paid for
3 appraisals I paid for
work that was done that he said was to be covered in mortgage (there was an additional $25000.00 in work not done because of this)
I am also curious if I can add in the interest saving I could vave gotten on a streamline had I not gotten involved with this company? I would love to find a lawyer that can help of some info directing me how to go about doing this myself I am sure in todays economy a civil case with a jury and all the evidence I have this is a SLAM DUNK

[KC405]

You can sue the lender using a theory called promissory estoppel. If it was reasonably forseeable that the lender's promises would induce you to materially change you position then the lender will be liable to you. You could also toss in a consumer fraud claim.

One question though - Did you submit any information to the bank in writing to apply for the loan? I only ask this because if some of the information was not accurate then the bank could claim that they attempted to verify the information and found something inaccurate and therefore denied the loan.

[billmcdnj]

You can sue the lender using a theory called promissory estoppel. If it was reasonably forseeable that the lender's promises would induce you to materially change you position then the lender will be liable to you. You could also toss in a consumer fraud claim.

One question though - Did you submit any information to the bank in writing to apply for the loan? I only ask this because if some of the information was not accurate then the bank could claim that they attempted to verify the information and found something inaccurate and therefore denied the loan.


Everything I submitted was 100% accurate, the only lies were from the lender trying to fluff the value so he can make a few points he was also looking to flip the loan in 4 months after closing for a better interest rate. I have tried the bar associaltion as well as called a few attorneys it seems nobody will help with this case and I am not sure how to do so I will try to read as much as I can I know I was wronged and should be entitled to the money I spent back. Its a shame all I can find are ambulance chasers and lawyers that dont handle this type of case

[KC405]

Ok, let me just verify a few things with you:

1. The lender told you to skip the next 2 mortgage payments because the loan was approved? - if so do you have an email to support this?

2. The lender told your contractor to go ahead and start the work because the loan was approved? - if so do you have emails to support this?

3. Did you actually skip any of the mortgage payments?

4. Regarding the financing you ultimately got, was the interest rate higher than the loan you were fraudulently told your were approved for?

[billmcdnj]

Ok, let me just verify a few things with you:

1. The lender told you to skip the next 2 mortgage payments because the loan was approved? - if so do you have an email to support this?

2. The lender told your contractor to go ahead and start the work because the loan was approved? - if so do you have emails to support this?

3. Did you actually skip any of the mortgage payments?

4. Regarding the financing you ultimately got, was the interest rate higher than the loan you were fraudulently told your were approved for?

1. this was on the phone he told me and the contractor the loan was approved and done he was somewhat careful to never say in e mail but had others in his office reply I have in Dec an undeerwriter in his office tell me ok to fly home early to close I also have previous e mails from her saying she will not tell me anything until it is 100% true

2. I can get letter from contractor I also have e mails from branch manager telling me he is on the phone with contractor

3. I had no choice I spent over $2000.00 out of my pocket to try and get this loan I am now working it out with Bank to get current

5 much higher my fate for mortgage was 6% financing is 9.9%

6. I also have e mails from Compliance depth stating they will look into streamlining my loan just to make amends a day later that person was removed from my loan


Its a shame I feel I have become a victim and no way to get my money back