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Jlmew · Aug 24, 2011, 12:30 PM

I went to a bank and got pre approved for a mortgage. I then found a home, signed a sales agreement, filled out the full mortgage application and received a commitment letter from the bank. I fulfilled all of the requirements of the commitment letter (a few deposit explanations) and we were supposed to close over a week ago. The bank keeps prolonging it and saying it's still being reviewed. My rate is going to expire tomorrow though it is not my fault at all. Is there anything I can do? Can I sue the bank for all of the money I already have into it? (A downpayment to the seller, appraisal fee, lawyer fees, title fees, inspection fees, etc). Someone please help me? This bank is treating my husband and I horribly. I am certain it has nothing to do with my credit or ability to pay. (My credit score is over 780 and the payment will be less than 25% of my monthly income).

tickle · Aug 24, 2011, 01:28 PM

I don't know what to say to this horrendous treatment, only that you really should go above the head of the person you are dealing with. Right to the bank manager if need be.

Where are you located, and is the issue with the title of the house maybe? Could be the problem doesn't lie with you but the present owners.

Jlmew · Aug 24, 2011, 01:55 PM

Thanks for the suggestion. I live in an area that is currently bombarded with gas companies and most properties have gas leases on them, which is the case with thus one. Originally they were saying that was the hold up with the title, but that has been taken care of since last week. Every time I contact someone other than my loan officer they direct me to her (originally they did not). I'm really at a loss here. I've considered contacting the better business bureau?

tickle · Aug 24, 2011, 02:44 PM

Originally Posted by Jlmew

I live in an area that is . I've considered contacting the better business bureau?

I would have suggested that but BBB has probably been bombarded nowadays with worrisome projects, but yes, if you can get your case heard and you have a loud enough voice it is a good idea. I don't know what else to suggest, but stay on line with us; there are always multiple suggestions and ideas to a problem such as yours. I don't mean stay on line :) and not get anything done but stay tuned here please.

Tick

Fr_Chuck · Aug 24, 2011, 02:58 PM

Ask for a meeting at the bank ( assuming you are using a local lender) with the loan manager and find out exactly what is holding it up.