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Home Loan took 11 months and no rerselts

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LJ_Bauer_2 Joined: 09 Nov 2009 Posts: 2 1.38 Dollars($)	Posted: Mon Nov 09, 2009 8:15 pm    Post subject: Home Loan took 11 months and no rerselts Like 0 Dislike 0 What are my rights as a consumer?
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Mon Nov 09, 2009 11:09 pm    Post subject: Like 0 Dislike 0 Hi LJ_Bauer, Quote: Home Loan took 11 months and no rerselts Do you mean you applied for a home loan 11 months ago and the lender has not yet informed you if you qualify for it? As far as I know, the lender is required by law to give you a TILA good faith estimate within 3 business days after you apply for a loan. But this does not mean if you have been approved for a loan. Since the lender has not entered into any kind of agreement with you, I do not think he is legally bound to offer you a home loan. Thus, I'm not sure if you have any rights as a consumer to sue the lender. You should contact a consumer attorney as he would be the best person to guide you in this regard.
gmakerley Community Mentor Joined: 09 Nov 2007 Posts: 12330 Location: bloomfield, ct 50.03 Dollars($)	Posted: Tue Nov 10, 2009 12:08 pm    Post subject: Like 0 Dislike 0 what happened during that 11 month period? i think that's a critical question. if you were in process during that entire period, and only just got a response, then you've been treated poorly. if, however, the lender advised you that you didn't qualify at one point, but continued to try to work with your situation over that extended period of time, i doubt you have much to complain about. give more details, please, so we can rightly assess the situation. _________________ George M. Akerley Independent Contractor - Mortgage Consultant Word of Excellence Editing/Writing/Proofreading 860-221-5044

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