Home Loans and Support

Loan Purchase Recourse 2004 Loan

Discussion in 'Ask the Attorneys?' started by benjr, Jan 15, 2014.

  1. benjr

    benjr LoanSafe Member

    I got screwed on a loan by a friend. Basically I got no good faith estimate and he slid in a point which in the past he advised me never to do. He also used one of my signatures without my permission to gain an additional commission by placing my signature on a form. I had to sign docs because the house was closing and it wasn't presented until the last minute.He also was present at the closing which I thought was odd. The mortgage company he worked for is closed.
  2. TomEason

    TomEason LoanSafe Guide Staff Member


    Welcome to LS. Sorry to hear your "friend" took advantage of you.

    I presume you're not asking for advice on what to do.
  3. Erik Sandstrom

    Erik Sandstrom Mortgage Expert - Call 1-800-779-4547

    This is a bait and switch which is a violation of TILA (Truth in Lending Act) as well as forgery. You do have recourse if you're looking for that.

    Like Tom mentioned, are you looking for any advice? What are your plans? Has the property foreclosed? Have you missed payments? Are you trying to refinance, purchase another property? Get rid of the one you have? Worried about a deficiency judgment?

    Thank you for sharing your story and we're all happy to help.
  4. benjr

    benjr LoanSafe Member

    No I was just curious if I had recourse and where to file a complaint. Maybe get some money back. I still have the property, in fact I put down another 52K to refi it, so the property is in good standing.

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