How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Barrister Your Own Question
Barrister
Barrister, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 33757
Experience:  Attorney with 15 years experience in various consumer protection areas
19958803
Type Your Consumer Protection Law Question Here...
Barrister is online now
A new question is answered every 9 seconds

My son. Was buying a house the bank said they would give m

Customer Question

My son. Was buying a house the bank said they would give him the loan but every time they went to close they say he needed something else this happend4 times starting in July . This last time they said the loan was ready the ins. Co said the bank called them to start the coverage on day of closing they said they couldn't get loan is there any thing he can do
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Barrister replied 1 year ago.

Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.

.

I hate that the bank is jerking him around like this and keeps getting his hopes up that they will finally close. But from a purely legal perspective, the bank is under no obligation to make the loan and can pull out at the last minute and refuse if they want to. As a former closing attorney for 4 different lenders, I have had closings scheduled and then get cancelled the morning of the closing because something showed up on a credit report or someone dropped the ball in processing the loan, so it got cancelled.

.

So unfortunately, there is not any way to force the bank to make the loan and he essentially has to continue to jump through their hoops in hopes that they will eventually get to the closing table...

.

I am very sorry that I don’t have better news, but please understand that I do have an ethical and professional obligation to provide customers with legally correct answers based on my knowledge and experience, even when I know the answer doesn’t make the customer happy...

.

.

thanks

Barrister

Related Consumer Protection Law Questions