To Whom It May Concern:
********Hello how are you doing? I need a little bit of legal advice as to if I would have a case or not I will try and make it brief. Me and my fiance began looking for a new home back in August to live in as our family is growing. We found a nice house we both fell in love with and decided we should move forward with the process of trying to purchase this home. Our real estate agent referred us to chase bank and their rep (removed name of rep.). I told him or situation with currently owning a home through a FHA home loan. He said all was fine. He then proceeded to find us or best option to purchase this new home. He came back with another FHA home loan. We did all the paperwork and went through the whole process. He continued us along to where we could make an offer on the house. It got accepted. We then placed our binder fee down and lined up our current home to be rented out and set days for our renters. Our original closing date was for the end of September. In which it got pushed back to the week of October 18th. Then approximately one week before our second closing date the issue of having a second FHA home loan become an problem. Due to not having 25% equity built up in our current home. A sudden increase of the size of the family or moving outside of 50 miles from our current residence. All of which the lender failed to realize. He then proceeded us through for a conventional 5% down home loan. We then had to get another extension done through the seller for October 30th. They then made claims that everything is good since all the documents that needed to be turned in got turned in for the conventional loan. Such as proof of possession of the money for the down payment. We were lead to believe everything was good and on track for closing on the 30th of October. The lender even bragged about how well things were moving along and how we are so close to closing. Even sent messages to the real estate agent how well things are and that we will be closing before another couple which is my brother in law and his girl friend. Then all of a sudden on Tuesday October the 22nd I got a phone call from Chase. A week out from closing on our house the lender began speaking of how we should start looking for our property and restarting the process. We was never told of what was going on. After two moths of our hope being built up. After all of the work we put in to get this house. After having set dates for our renters to move in to get push back multiple times for when they get to move in and as for us moving out the issue finally came clear. We were never fully qualified to purchase this home. For me my debt to ratio was to high to get the loan by my self. And my fiance has to two doctor bills in collections and a sprint bill from 2009. I understand the process and the terms that need to be met to purchase the home. But what I do not understand is why were we mislead for these two months and allowed to progress through all the steps and find out the bad news. Their actions do not only effect me and my family but also my renters and their family. Their family of five has been living with his mom and her family of four the past two months due to Chase's actions. I feel if they were properly doing their job none of this would have came about. We are going to be at a lost of our home we had our hopes set so high and lead to believe we were so close to closing on. We are going to be at a lost of renters. We have put our renters on the verge of being homeless and living in and out of hotels or in their vehicle with three kids. It is also making us look like we are not reliable and irresponsible landlords. And I feel all this could have and would have been prevented if they would have properly done their job from the beginning. Also I feel they should be held accountable for the loss of the house we were mislead on that we were so close to getting. The emotional roller coaster that we were put on all the stress and headache that was caused and all the heartache they have caused
********Hello how are you doing? I need a little bit of legal advice as to if I would have a case or not I will try and make it brief. Me and my fiance began looking for a new home back in August to live in as our family is growing. We found a nice house we both fell in love with and decided we should move forward with the process of trying to purchase this home. Our real estate agent referred us to chase bank and their rep (removed name of rep.). I told him or situation with currently owning a home through a FHA home loan. He said all was fine. He then proceeded to find us or best option to purchase this new home. He came back with another FHA home loan. We did all the paperwork and went through the whole process. He continued us along to where we could make an offer on the house. It got accepted. We then placed our binder fee down and lined up our current home to be rented out and set days for our renters. Our original closing date was for the end of September. In which it got pushed back to the week of October 18th. Then approximately one week before our second closing date the issue of having a second FHA home loan become an problem. Due to not having 25% equity built up in our current home. A sudden increase of the size of the family or moving outside of 50 miles from our current residence. All of which the lender failed to realize. He then proceeded us through for a conventional 5% down home loan. We then had to get another extension done through the seller for October 30th. They then made claims that everything is good since all the documents that needed to be turned in got turned in for the conventional loan. Such as proof of possession of the money for the down payment. We were lead to believe everything was good and on track for closing on the 30th of October. The lender even bragged about how well things were moving along and how we are so close to closing. Even sent messages to the real estate agent how well things are and that we will be closing before another couple which is my brother in law and his girl friend. Then all of a sudden on Tuesday October the 22nd I got a phone call from Chase. A week out from closing on our house the lender began speaking of how we should start looking for our property and restarting the process. We was never told of what was going on. After two moths of our hope being built up. After all of the work we put in to get this house. After having set dates for our renters to move in to get push back multiple times for when they get to move in and as for us moving out the issue finally came clear. We were never fully qualified to purchase this home. For me my debt to ratio was to high to get the loan by my self. And my fiance has to two doctor bills in collections and a sprint bill from 2009. I understand the process and the terms that need to be met to purchase the home. But what I do not understand is why were we mislead for these two months and allowed to progress through all the steps and find out the bad news. Their actions do not only effect me and my family but also my renters and their family. Their family of five has been living with his mom and her family of four the past two months due to Chase's actions. I feel if they were properly doing their job none of this would have came about. We are going to be at a lost of our home we had our hopes set so high and lead to believe we were so close to closing on. We are going to be at a lost of renters. We have put our renters on the verge of being homeless and living in and out of hotels or in their vehicle with three kids. It is also making us look like we are not reliable and irresponsible landlords. And I feel all this could have and would have been prevented if they would have properly done their job from the beginning. Also I feel they should be held accountable for the loss of the house we were mislead on that we were so close to getting. The emotional roller coaster that we were put on all the stress and headache that was caused and all the heartache they have caused
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