Mortgage Misrepresentation

I began the process of buying a home, my realtor called the mortgage co. she works with, we began working with an agent, she sent us a preapproval letter, we gave her our bank account info. and social security numbers. she kept telling us the loan was fine. a week before we were supposed to settle, we still did not have the paper work promised, so my realtor called the company and found this woman was no longer employed. We now may end up homeless (or at least in a hotel) as we have to be out of our current property in a few days and we had to begin the loan process all over again. Also, we ended up having to borrow money as the figures for closing and even monthly payments the original person gave us were no where close to what the real loan is going to cost. She has caused much stress and struggle, and apparently she did the same thing to four other couples. Is there any action that can be taken against her for what she's done to us? She knew she was not employed, however, promised us a loan and a home, which she could not provide. Any advice is apprceiated. Thanks!

[randalljd]

Based on what you say here, you could file suit against her (or at least threaten to do so) in small claims court or in regular court; filing in small claims court is easier and requires no attorney...you could try to collect all of the costs and damages that you suffered due to his behavior... You may also report her to your state attorney general's office.

World Law's lawyers could also probably help resolve this if need be. You may email them on the home page.