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Tina
Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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In 2009 my wife moved her 401K to City National bank and put

Customer Question

In 2009 my wife moved her 401K to ***** bank and put it in a IRA roll-over, the problem is that they did not put it in a roll-over. and did not inform Leslie my wife at all for Nine months. Now the I.R.S has leaned the house for 187,000 dollars. the bank will not take any fudicciary responsibility for it and have acted as if we never banked with them before , Our house was leaned june of 2015 and we only have a two year time limit to sue for damages, could and RESPA law be used in this case.
Resp; Kenneth L Hurst
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Submitted: 4 months ago.
Category: Real Estate Law
Expert:  Maverick replied 4 months ago.

Welcome! My name is***** give me a few minutes to analyze and/or research your inquiry and I will be back.

Expert:  Maverick replied 4 months ago.

Kenneth:

I am not sure why you are asking about RESPA. This RESPA act was designed to protect potential homeowners. RESPA requires that lenders provide greater amounts of information to prospective borrowers at certain points in the loan settlement process. It also prohibits the various parties involved from paying kickbacks to each other.

This appears to be more of a breach of fiduciary duty or breach of contract or negligence issue. There may be a way to extend the statute of limitations. But, I am not sure why you have waited till now to do something since your wife knew that the money was not rolled over back in 2010.

Can you please explain further?

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