- Jurisdiction
- Ontario
Hi there,
I was dealing with a mortgage specialist that was referred to me to take care of the following 3 issues:
1) I wanted to re-mortgage my home to take advantage of the lower interest rate.
2) I wanted to take out some of my home equity to pay off some debts including my credit
card and deposit a surplus of cash in my checking account.
3) I wanted to give $5,000.00 back to my Mother who had given to the bank as security to open a line of credit about 3-4 years ago and open up a new line of credit.
I went to see him back in October 2015 with my requests.
According to him, this whole process should take anywhere from 3 days to a week to take
care of.
Well we are July 2016, nine months later and I am still dealing with him.
My Visa and line of credit were paid off in January and some money had gone into my bank account however, during those 3 months, the debt was getting higher in my checking account that there was not enough to keep me in the black. The mortgage specialist said he would take some more money out of the equity to give me a buffer of cash in my checking account.
I asked him why this process is taking so long and he kept on saying that he was having system issues and whatever he had promised that would happen turns out that it was not following the banks policies and other countless excuses.
Like I mentioned, it is now Sunday July 10 and I still have not received the money in my checking account. My Mother's $5,000.00 is to be transferred in my account in 2 weeks so that ordeal will have taken 9 months to complete.
This whole process has caused so much stress including financial stress to me and my Mother because she wanted that money to pay off some of her credit card debts. Just the other day, I went in to my branch to pay some bills and the teller told me that because my overdraft had gotten so low, there was not enough funds to pay my bills. Embarrassingly, I had to transfer some money from my line of credit just to pay for those bills.
The mortgage specialist sent me an email the other day apologizing that this whole process has taken so long. Unfortunately, I cannot accept that.
I have all this proof in our email correspondences to each other. My countless emails to him asking about my account and his responses stating that the money will be in my account tomorrow or he is having system issues or he is looking into it and would get back to me. He would tell me on several occasions that I would have to come in to the branch and sign some papers to compete the transaction which would later turn out that it was not even necessary to have papers signed according to the bank. These would cause an inconvenience to me because I would have to work around my work schedule just to accommodate his schedule in order to sign these papers. Even with no papers signed, nothing would get done.
Can I sue for damages? I would appreciate some advice because this is intolerable. No one should have to suffer through the ordeal that I am presently going through.
Thank you.
I was dealing with a mortgage specialist that was referred to me to take care of the following 3 issues:
1) I wanted to re-mortgage my home to take advantage of the lower interest rate.
2) I wanted to take out some of my home equity to pay off some debts including my credit
card and deposit a surplus of cash in my checking account.
3) I wanted to give $5,000.00 back to my Mother who had given to the bank as security to open a line of credit about 3-4 years ago and open up a new line of credit.
I went to see him back in October 2015 with my requests.
According to him, this whole process should take anywhere from 3 days to a week to take
care of.
Well we are July 2016, nine months later and I am still dealing with him.
My Visa and line of credit were paid off in January and some money had gone into my bank account however, during those 3 months, the debt was getting higher in my checking account that there was not enough to keep me in the black. The mortgage specialist said he would take some more money out of the equity to give me a buffer of cash in my checking account.
I asked him why this process is taking so long and he kept on saying that he was having system issues and whatever he had promised that would happen turns out that it was not following the banks policies and other countless excuses.
Like I mentioned, it is now Sunday July 10 and I still have not received the money in my checking account. My Mother's $5,000.00 is to be transferred in my account in 2 weeks so that ordeal will have taken 9 months to complete.
This whole process has caused so much stress including financial stress to me and my Mother because she wanted that money to pay off some of her credit card debts. Just the other day, I went in to my branch to pay some bills and the teller told me that because my overdraft had gotten so low, there was not enough funds to pay my bills. Embarrassingly, I had to transfer some money from my line of credit just to pay for those bills.
The mortgage specialist sent me an email the other day apologizing that this whole process has taken so long. Unfortunately, I cannot accept that.
I have all this proof in our email correspondences to each other. My countless emails to him asking about my account and his responses stating that the money will be in my account tomorrow or he is having system issues or he is looking into it and would get back to me. He would tell me on several occasions that I would have to come in to the branch and sign some papers to compete the transaction which would later turn out that it was not even necessary to have papers signed according to the bank. These would cause an inconvenience to me because I would have to work around my work schedule just to accommodate his schedule in order to sign these papers. Even with no papers signed, nothing would get done.
Can I sue for damages? I would appreciate some advice because this is intolerable. No one should have to suffer through the ordeal that I am presently going through.
Thank you.
