Misrepresentation?

[Susan67]

In December, my husband and I refinanced our home, with a large amount of cash out. The gentleman that did our loan assured us that our taxes and insurance were to be included in our payment. I know this sounds like "no big deal" but when I called the finance company to speak with them, and to find out why they were not included I was told that the gentleman that initially processed our loan had been let go from the company because he "did not lie to his clients, but did not tell them the whole truth". To make a long story short, the man I spoke to is a "boss" and he checked the paper work on my loan and said "well it's not in the HUD statement, and maybe you didn't have enough money to put them in escrow, and I then informed him of the amount of money we received at closing. He said he would look into it, and get back to me, he called me back and said he spoke to the man who did our loan, and he claimed he told me that the taxes and insurance weren't going to be included in the payment, and I told him that I did not recall the conversation, and he said "No problem, that's why we tape the phone conversations" I asked him if he could listen to the tapes and get back me about what was said. Of course he never got back to me, and I have called several times. I am taking this to mean that the conversation he said we had never took place. What I want to know is if I may have a case of misrepresentation against this mortgage company. Thanks.

 

[seniorjudge]

Q: What I want to know is if I may have a case of misrepresentation against this mortgage company.

A: If the mortgage company agreed in writing to do something and didn't do it, then you may have a case if you suffered damages.

Nothing in your post shows that they misrepresented anything in writing.

 

[Susan67]

The truth in lending statements that we received from the company all stated that the ins. and taxes would be escrowed in...does that count?

 

[seniorjudge]

The truth in lending statements that we received from the company all stated that the ins. and taxes would be escrowed in...does that count?

That is certainly in your favor...although a TIL is not really a guarantee that the company will escrow the funds.

Now, tell us how you were damaged (i.e., the actual and direct dollar amount of damages).