bank loan specialist bait and switched me

[jersey]

the loan specialist told my wife if we applied for 200k we could get a fixed 3% rate and pay our house off. it was a homerun b/c my mortgage is 4.25% however after applying and speaking to a loan officer i sent him a checklist to feel more comfortable. i asked if the rate was fixed and he responded no it could balloon to 18% and drop as low as 2% . i told him the woman at the bank said it was fixed and ever said she paid her house off this way. he then responded she was misinformed and i should call her. i spoke to her and she informed me the loan officer was wrong. to which the loan officer told me hed call her and explain her misinformation.... never heard from her again however i decided to get the line anyway ...so then the loan officer called me and told me i could have 195k only if i paid my house off and no other loan. i told him id be crazy to pay my house off with a variable apr line of credit and how could the bank offer me almost 200k or i wouldnt be eligible for anything else ? strange..... anyway i got into this whole mess because the woman at the bank lied to me....... can i sue for violations of the truth in lending as far as clear and concise interest rates and the right to correct info? if i never sent that checklist i could have got that money and paid my house off and maybe missed the variable apr?

 

[army judge]

the loan specialist told my wife if we applied for 200k we could get a fixed 3% rate and pay our house off. it was a homerun b/c my mortgage is 4.25% however after applying and speaking to a loan officer i sent him a checklist to feel more comfortable. i asked if the rate was fixed and he responded no it could balloon to 18% and drop as low as 2% . i told him the woman at the bank said it was fixed and ever said she paid her house off this way. he then responded she was misinformed and i should call her. i spoke to her and she informed me the loan officer was wrong. to which the loan officer told me hed call her and explain her misinformation.... never heard from her again however i decided to get the line anyway ...so then the loan officer called me and told me i could have 195k only if i paid my house off and no other loan. i told him id be crazy to pay my house off with a variable apr line of credit and how could the bank offer me almost 200k or i wouldnt be eligible for anything else ? strange..... anyway i got into this whole mess because the woman at the bank lied to me....... can i sue for violations of the truth in lending as far as clear and concise interest rates and the right to correct info? if i never sent that checklist i could have got that money and paid my house off and maybe missed the variable apr?

You can sue anyone or anything for any reason you can conceive.

That's one of your absolute rights derived from your mere presence in the USA.

The question you need to ask is not if you can sue, rather will you can prevail if you sue?

In your case, friend, the answer is bifurcated.

Yes, you can sue.
No, you won't recover anything, because you have no cause of action.

No one held a gun to your head and required you to enter into a business transaction.

Never sign anything until you've read and understand everything you've read. If you have read everything, but don't comprehend it, consult YOUR attorney, or refuse to sign.

Never rely on oral promises to sign any contract.

If it ain't within the four corners of the contract, it's not what you've agreed to do, give, receive, or benefit therefrom.

You got into the mess because you relied upon oral promises not contained within the contract you signed.