can we sue loan officer for incompetence

[rainwolf9653]

We have provided everything asked for and constantly been assured that our loan would be approved. It was pre approved and the underwriters signed off on it and sent it to the usda for final approval. Because the loan officer apparently did not read the qulifications for the usda loan, we were required to pay off certain debts in full that the usda specifically says we didint have to pay to be qualified because of our credit score. Then the usda did not approve the loan because the loan officer sent them the wrong paperwork along with paperwork that did not concern the loan. Now we are about to lose the property we were renting and still not have a house because of his incompetence. Can we sue for damages?

 

[Proserpina]

Do you have it all in writing?

 

[army judge]

I don't see a successful lawsuit, OP.
But, why not discuss it with a few attorneys in your area?
If such a lawsuit is brought, the loan officer's employer will aggressively defend.

 

[Betty3]

Can we sue for damages?

You can sue but that doesn't mean you will win - "sounds" doubtful. However, go ahead & talk to a lawyer or two & get their opinion.

 

[Proserpina]

I'm hesitating to say "no case" on this one; if the OP actually has some sort of guarantee from either the loan place or the seller, there may - just may - be recourse.

 

[army judge]

I'm hesitating to say "no case" on this one; if the OP actually has some sort of guarantee from either the loan place or the seller, there may - just may - be recourse.

Well, whatever the couple decides to do, a free consultation with a licensed Mississippi attorney or two will certainly help them sort it out.

 

[mightymoose]

I am curious why the OP did not read the same documents he claims the loan officer did not read. I would expect those documents have OP's signature on them.

 

[Betty3]

Don't know but I guess a lawyer will sort it all out.

 

[army judge]

I am curious why the OP did not read the same documents he claims the loan officer did not read. I would expect those documents have OP's signature on them.

People seem to shift the blame for their choices.
Generally, people hear what they want to hear, and dismiss what they read if the two differ.
Lastly, very few people read, they generally just sign on the dotted line believing all will be well.