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CalAttorney2
CalAttorney2, Lawyer
Category: Real Estate Law
Satisfied Customers: 10244
Experience:  I am a civil litigation attorney with experience representing HOAs, homeowners, businesses and others in real estate matters.
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I have tried to get a refi with Quicken loans and it has been

Customer Question

I have tried to get a refi with Quicken loans and it has been about 4 months for the process. I have turned in all the papers they asked for very promptly, but they kept telling me that they were working on it, that if they needed something they would let me know. The problem is that apparently they were about to close when they called saying that at my job they have been told that I didn't work there anymore, when I had a contract till sept Then QL asked me for the work contract, then time for the new proof of the mortgage payment. Now they asked me for different papers that I can't provide because of the sick leave I had to take, but payments are being done. Now I the emails they sent me about people at work telling them that I wasn't working there anymore are gone, and also the ones I sent asking them who did they speak with because I was upset that they told them the wrong information, and worsen the loan process situation. It is just very bizarre to have a situation like this with a loan process taking for ever. I send them an email today asking them to let me know if this wasn't going to work because I have some calls from people interested in buying the house. I have mentioned this before to them too, and asked them to let me know because otherwise I would have to sell the house. It just doesn't seem the right procedure. Please advise
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  CalAttorney2 replied 2 years ago.
I am sorry to learn of this situation. Unfortunately, the lender does not owe you a duty at this point - they have a right to take precautions in ensuring that your income is secure and making inquiries with your employer, following up with documentation regarding payments, etc. on your payment, and this can cause for an elongated closing, particularly if you have sick leave and are on a contract as opposed to a traditional employment.If you plan on selling, this is leverage you can use against a lender to motivate them, but if you want to refinance, I would recommend shopping your loan around to local lenders and try to get some more personalized service - a local credit union or small bank may be able to assist you, while a loan broker can shop your loan to several different lenders at the same time.
Expert:  CalAttorney2 replied 2 years ago.
Dear Customer, I have consolidated your follow up here:
Yes, but people at work saying I wasn't there anymore, when I was still have a contract, and they hiding the emails as if wanting to protect them or maybe they just lied about, and somehow know everyone's life. This is what doesn't seem right. Don't people have the right to clean procedures, and truth?
I don't have enough information about what was being said at work to provide you with a formal legal opinion. Unfortunately without knowing who said what it is going to be difficult to formulate a claim - what probably happened is that the lender talked to the wrong person at your employer's and that person gave the wrong information - because they didn't have the proper information, and failed to direct the lender to the right person. But it is going to be very difficult to establish a legal duty to create an actionable legal claim to support damages against your employer for this action.
Regarding the lender's perspective on contract vs. traditional employment, the problem that lenders are looking at is long term stability, while you may have a contract through September, if you are applying for a 30 year loan, the lender is looking to see if you are going to be employed 12, 24, and 60 months down the road.
Customer: replied 2 years ago.
(Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  CalAttorney2 replied 2 years ago.
Dear Customer, I do not provide telephone calls - my hourly rate is far in excess of the small fee charged for this "Q&A" session, and I do not wish to provide the impression that we have an attorney/client relationship through this forum. If you desire a phone call, you can post a second question and post in the initial question that you are looking for "Additional Services" and another expert will provide you with an offer giving their fee for this additional service and additional instructions.