Financing in New York>Question Details

Tracycpa5, Home Buyer in Bronx, NY

I need a lawyer who can help me sue a mortgage broker who made sure we did not get approved for the loan.

Asked by Tracycpa5, Bronx, NY Mon Sep 19, 2011

We were in the process and were told by the Mortgage broker that we already were preapproved and that we just had to submit the proper paper work, which we did. We had two items on our credit report that she told us not to pay it off because it would look bad. But these where items that was going to be paid off anyway. She also told the agent that we were preapproved and then after 7 months she said that we had to submit other paper work like the application paperwork. She then just dropped us after we questioned her about what she was doing in our case. She was never available to talk to via phone, took real long to answer back emails and just was not keeping us informed. It almost seemed like if she was discriminating against us. Please help if you can with any lawyer in New York City.

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Answers

9
It seems that most of my colleagues are telling you exactly what you want to hear and not being very truthful or helpful. We live in a seriously over litigious society where everyone wants to sue everyone else. It gets all of us nowhere and creates a society of anger.
I suggest that you find another mortgage broker, get your deal completed and move on with your life.
In the end, suing will just create more hate and discrimination, and that is something that we all would rather live without. No one will win but the lawyers anyway.
4 votes Thank Flag Link Tue Sep 20, 2011
HI Tracycpa5,

Sorry to hear you have had difficulties. The decision to sue is yours. Since I am not a lawyer myself, I cannot tell you whether your case has merit or is winnable. That being said, I do know a very good lawyer that is familiar with mortgage and banking law and could probably give you a straight answer on whether the case is worth bringing. Her name & contact info are below:

MICHELE A PETERS
545 Eighth Ave., Suite 1270
New York, NY 10018
(800) 461-4240

Let me know if I can be of further service.

JOE GREENE
Broker/Owner
WEICHERT,REALTORS - House & Home
609 Kappock Street
Suite 1A
Bronx, NY 10463
(718) 432-5000 (Office)
(718) 432-2091 (Fax)
(917) 974-2600 (Cell)
joegreene@weichert.com
1 vote Thank Flag Link Tue Sep 20, 2011
Hi, Tracycpas5. In brief: preapprovals are typically only good for 90 days, which coresponds with the shelf life of a credit report. In that amount of time any number of things could have possibly changed to affect your preapproval...or none at all. Not knowing the unbias specifics, I won't attempt to speak to anything else regarding your issues. However, I am sorry you had to go through this.
0 votes Thank Flag Link Wed Sep 28, 2011
Put your energy into finding a Mortgage Broker that you can work with & is actively looking for creative ways to help a buyer close on a property. In litigation the only winner is the attorney! You will find find people who are good at their jobs and people who really suck in all walks of life! They are not necessarily discriminating but incompetent. The best way to succeed is to find someone better & get the job done, then you can let them know what they missed out on ($$$ the the other Broker received when he/she closed on your property). If you let it eat away at you, it will only cause more stress in your life which you don't need. Focus on closing your deal & finding that property.
0 votes Thank Flag Link Tue Sep 27, 2011
Sorry to hear about your situation; below are links to the Bar Association for attorney referrals.
http://www.bronxbar.com/
http://www.abcny.org/get-legal-help/legal-referral-service
http://www.nysba.org/
0 votes Thank Flag Link Mon Sep 19, 2011
Hi Tracycpa5,

If you submit a loan application anywhere the lender is required by law to give you a response in writing giving you specific reasons for declining your application. Here is a good document on Fair Lending, section 2 talks about complaints and enforcement. http://www.rdmesq.com/downloads/CH_20_-_FAIR_LENDING_LAW.pdf

You can also contact the NY Banking Department http://www.banking.state.ny.us/ and get their advice on the matter.

But ultimately, switch lenders and get your deal done if you have all your documents in order.

Best of luck,

Armen
0 votes Thank Flag Link Mon Sep 19, 2011
Hi Tracycpa5,

The NYC Human Rights Law prohibits housing discrimination in New York City based on a person's real or perceived race, color, national origin, gender (including gender identity and sexual harassment), creed, disability, sexual orientation, marital status, partnership status, alienage or citizenship status, age, lawful occupation or because children may be or will be residing with you.

You should contact the Human Rights Commission. They will take the case if they think it is discrimination.
You can contact them at 212 306-7450.

Good Luck!
0 votes Thank Flag Link Mon Sep 19, 2011
Mitchell Hall, Real Estate Pro in New York, NY
MVP'08
Contact
Sorry to hear about your troubles. I would try Lawyers.com or another site like that ( i think the BBB has some service as well). That field like all others has its shining stars and its gutter dwellers, don't be too put off though. There are good mortgage brokers out there, just be sure to try and get referred if possible by someone who has had dealings with them and always do a quick internet search to see what info is out there. Good Luck!

Cyrus Zafaranloo
czaf@uptonrealtygroup.com
917 776 2977
0 votes Thank Flag Link Mon Sep 19, 2011
Hire a civil litigation lawyer and sue them. You have a good chance to win.
0 votes Thank Flag Link Mon Sep 19, 2011
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