Can I sue mortgage broker for cost of appraisal and home repairs?

Barchart Morning Call
The Japanese government said that tax revenue in the next fiscal year that begins April 1 will total 43.1 trillion yen ($ 474 billion) and will exceed bond issuance of 42.85 trillion yen for the first time in four years. The government optimistically …
More informaiton please visit here…

State could make play for arena
A July 18 email from Mark Morante, order recipe the MEDC's senior vice president of program management, capital markets and incentives group, to Detroit Economic Growth Corp. CEO George Jackson and Brian … Wayne County Executive Robert Ficano has said for several …
For more informaiton please visit here…

Musician of the Week: Nina Simone
Eunice Kathleen Waymon (February 21, visit web 1933 – April 21, order 2003), cheap better known by her stage name Nina Simone, was an American singer, songwriter, pianist, arranger, and civil rights activist widely associated with jazz music. Simone aspired to become a …
If you would like more informaiton please visit here…

Ian Somerhalder and Nina Dobrev Will Suit Up for the 2013 Celebrity Beach Bowl!
On Super Bowl weekend, The Vampires Diaries co-stars and real life lovebirds Ian Somerhalder and Nina Dobrev will join forces with fellow celebs to face former NFL greats in the 2013 Celebrity Beach Bowl. Don't worry, it's flag football. This game of …
More informaiton please visit here…

Question by tim: Can I sue mortgage broker for cost of appraisal and home repairs?
I moved into my investment property after selling my primary residence and lived there for 4 months before I engaged a mortgage broker to refinance my motgage as a primary residence. I supplied the broker with all the pertinent info needed including amount of time that we lived in the residence. He ran my info & told me I was approved for a refi loan with a 15 yr fha mortgage at a far reduced rate than I previously had on my 30 yr investment property mortgage. I then had to pay $ 700 for an appraisal (it’s a duplex). When appraisal was returned it was lower than expected making LTV around 93% and also mandated that I make repairs to the home (fha required) that cost me in excess of $ 2, pilule 000 to complete. Broker assured me that although the appraisal value was low, we would have no issues completing the refi after we made the repairs to the home, so we took care of repairs, had a re-inspection and the house passed. I then expected the loan to be processed quickly as that was what broker had told me would occur. 1.5 months later broker continued to blame delay on large refi volume and (for final 3 wks) that loan was in underwriting. After the 1.5 months, I grew frustrated with delay and pushed hard for answers. Broker finally responded to me that there is an issue due to amount of time I occupied residence, but was confident it would be worked out very soon and loan would close. I then decided to do my own investigation of FHA guidelines and found that its very clear in guidelines that if you move into prop previously owned as an investment prop, that you need to have lived there for 12 mos to get typical FHA refi consideration and if you lived there any less than 12 months that only loans with LTV 85% or less are approved. Can I sue him for the money spent in appraisals/repairs as he didnt know of these guidelines beforehand and continued to advise me to move forward and spend? He also continues to tell me they will be able to overcome the issue. Is that possible?

Best answer:

Answer by Rob
Can u ‘sue’ – sure it is your money
to spend any way u want.
is it a valid case = nope.

u simply did not know what u were
doing when u tried to refi.
not mortgage broker fault.

over come issues – sure with time
and money.

good knowledge is good luck.
now u get life lessons of hard knocks.

Know better? Leave your own answer in the comments!