Can I sue my bank for negligence when they sat on my Mortgage paperwork & refused to send them to Underwriting?
My Husband retired from the Army Special Forces after 20 years in Apr & had been looking for a job since Feb. I called our bank BEFORE we were ever late for a single mortgage payment to see what they could do to help us. They started a Re modification Loan for us.The Agent gave us the run around til now when they removed our loan for us “refusing” to send in paperwork. I worked in banking for 20 yrs myself til I was in a car accident on my way to work & am now Disabled. I even worked in the Mortgage Loan Dept. for awhile doing EXACTLY what this “agent” was supposed to do! She continually sent us stuff months AFTER we sent in our paperwork saying she didn’t receive ONE piece out of 20!! ( 40 really since we mailed & faxed everything). She kept doing this til SEPT! when she said she needed (for the 3RD! time) 2 mons statements w/ our direct deposits. Well I ONLY send the info asked for, the actual DD info, NOT my entire statement b/c I know they don’t really need my checks& balances on a daily basis (from working in that Dept, & it’s really non of their business). She called me after 3 or 4 of my calls to tell me it all looked good & it would take 45-60 days now!! SO, here it is Oct & I get a letter from them in the regular mail telling me to start this RMA Loan. HUH?! SO I call & get some poor guy that I tell does not deserve my wrath but please listen. He tells me my loan has been removed for refusal to send in paperwork BACK in Sept!!! So they send me back to the same Agent, then her Super who does nothing but reiterating that we did not send in FULL statements. So I asked him if the State Guidelines required FULL ones w/ ALL checks & balances or JUST w/ the info needed. he wouldn’t answer me.So now that the equity we were going to use from our house to modify it for my Disabilities is GONE they are going to START the whole process OVER again taking ANOTHER 45-60 days of equity away!! Sorry for the looong story but can we sue to re coup our equity at least? Please help us. Thanks a bunch!
No the bank does not have to give me the loan but under Fed law they DO have to PROCESS my info in a timely fashion WITHOUT prejudice. That’s what all those signs say on the windows & walls in your bank that no one bothers to read. They cannot discriminate for race, gender, age, etc.. My loan was/is in the processing phase it hasn’t even gotten TO the people that MAKE the decision to GRANT me the loan or not. ALL this agent needed to do was GATHER info to SEND to the Decision Makers! Does that make more sense now? I’m so upset I am barely making sense to myself, sorry! Our credit is in the toilet now & I have NEVER been even a DAY late on my mortgages or rents in my LIFE!! My Husband went to war THREE TIMES while our 5 yr old son had to learn to cook & help me as much as I would let him( w/o making him feel guilty at the same time for NOT helping me. How is that done??) because I was bed bound after back surgery & couldn’t walk for months. Sorry I’m going off track.
I really doubt it.
What are your damages?
They are not REQUIRED to give you the loan…. Right?
They have the ability to simply REFUSE to refinance right?
So…. While the people who you were working with are terrible at their respective jobs…. They don’t owe you anything.
Your case would essentially allege that “you were guaranteed a refinance had they done their job properly”… And that is simply not true.
So…. You don’t really have any damages to sue for.
Can anyone have faith in the banking system anymore?
I have been banking with Regions for three plus years now. My husband and I are in our early twenties and have NEVER written a hot check, have never missed a mortgage payment, have excellent credit. The company my husband works for, however, was supposed to wire his check in the bank on time. After paying bills on the assumption that the money was in there on time (big mistake) we noticed that we had a negative checking balance because we’d spent $50 over what we currently had in our account. I immediately went into our savings account which is linked to our checking and transferred enough to cover the $50 amount that was overdrawn, plus enough to cover the $50 overdraft fee they charged me, then transferred $200 more just to put some in there until my husband gets paid. The bank could obviously see that we weren’t meaning to go over our limit, clearly they saw that we had money in our other account that they could’ve easily transferred. Well the next day I checked it and they said that because we didn’t transfer our money over before 6pm that they had to debit another fee of TWO HUNDRED dollars!!! I called the bank since I was at work at the time, and explained the situation and tried to get them to knock out the fees, since clearly I have NEVER had a problem like this and even had money in my other account to cover the amount. So they said they could only give me $35 out of the $250 total that they took from me. My husband is fixing to lose his job and that little bit of money in savings was supposed to be a cushion for us. Now I am having to fight the bank to get back my $250 because I went over my balance by $50. I don’t get it!!! I could understand if we did this all the time, but this is the first. I’m going to meet with the bank on Monday and possibly shut down my accounts if they can’t cut me some slack. Anyone else having ridiculous problems with their banks???
I DO HAVE OVERDRAFT PROTECTION, WHICH MEANS THEY CAN CHARGE ME WITH A $50 CHARGE IN ORDER FOR MY PAYMENTS NOT TO BOUNCE. BUT THEN THEY CHARGED ME AN ADDITIONAL $200 ON TOP OF THAT, WHICH IS THE REASON I’M UPSET WITH THE BANK. THEY CAN’T GIVE ME ANY EXPLANATION FOR THAT. ALSO, OUR ACCOUNTS ARE LINKED AND SET UP SO THAT IF THIS DOES HAPPEN THE SAVINGS WILL TRANSFER INTO THE CHECKING…WE TOLD THEM THIS ALSO AND THEY SAID IT MUST’VE BEEN A “GLITCH” AND THAT THERE IS NOTHING THEY CAN DO BUT GIVE US $35 OUT OF THE $250. I AM A SMART PERSON AND NEVER USE MONEY I DON’T HAVE, BUT LIKE I SAID THERE ARE A LOT OF CIRCUMSTANCES THAT FORCED ME TO HAVE TO PAY BILLS BEFORE I HAD A CHANCE TO CHECK IT. IF MY HUSBAND WASN’T ABOUT TO LOSE HIS JOB (THE COMPANY CAN’T PAY THEIR BILLS AND HAVE BEEN FORCED TO CLOSE) THEN WE WOULDN’T EVEN HAVE THIS PROBLEM RIGHT NOW BECAUSE WE’D HAVE MORE MONEY. WE ARE GOING THROUGH AN EXTREMELY HARD TIME, AND WISH THE BANK HAD SYMPATHY SINCE WE ALWAYS ARE GOOD CLIENTS!
Wow, those are some hefty fees! $50 for a returned check? Most are only about $35. Your bank is making bucks on those who *do* kite checks often!
If what you are saying is true, and you have NEVER overdrafted, they are being unreasonable to not refund more than $35 of the $250. You should have had overdraft protection in place or, your savings account tied to your checking to transfer funds if you were ever short. That is how most banks have it, BUT, you have to ask for that service, they do not do it as a rule.
I would take what is left of my money out of that bank too, IF this is the first time you have gone over. Most banks will waive fees (maybe not the entire $250) if it is the first time. I know my bank will waive them every 6 mos, as long as you don’t have a habit of overdrawing your account.
If you do close your account, make sure your new bank has your savings tied to your checking, and if you have great credit ask them if you qualify for an overdraft protection.
I know it’s hard sometimes when direct deposits don’t hit your account when *you* think they will. I have had that happen to me, and have been bad writing check(s) thinking the money would be there..and BAM! I got hit too. I just accepted it as an idiot charge since I should have checked..but.. LOL It still makes you mad when you just donated $35 to the bank.
What does it mean when I have bankrupted 2 years ago (kept the house) banks says not attempt to collect debt?
I BK 2 years ago. Still paying 1200/mo for my house. I cannot get an online account to check the balance and pay online. I have to billpay that way. They say not an attempt to collect, recover, or offset the mortgage indebtedness against you personally.
You sound like you’re in a Chapter 13 bankruptcy. You need to talk with your bankruptcy attorney if you have questions about your mortgage.
Can we deduct the amount what we add towards our mortgage principal for taxes ?
Lets say I sent a check of 10K to my mortgage bank to add it to my principal balance.
Now this 10K amount can I show it anywhere in my tax returns ?
Do I get any return on this 10K what I have added to my principal balance apart from monthly mortgage what I have been paying?
You can only deduct mortgage INTEREST on your taxes, not what you pay toward the principal.
What is the penalty for a bank that closes your account erroneously?
WAMU closed my bank account without notice stating I am in chexsystems, almost two years after I opened my account. This cause numerous nsf fees, as checks were outstanding when they closed the account and a 30 day late reported because my mortgage check was also returned unpaid. My account balance at the time of closing was over 2000.00 and by the way I am NOT in chex systems.. verified
Contact the bank as soon as possible. Either in person or on the phone. Don’t let this go as it will go on your credit score.
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