Real Estate Law

Have real estate law questions? Ask a real estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

This answer was rated:

If a bank engage in a property flip fraud where they force…

if a bank engage in...
if a bank engage in a property flip fraud where they force customers into refinancing rather than line of credit so they can artificially inflate the value of the properties in the area for futures customers and use a fraudulent appraisal to trick customers into borrowing more than the house is worth and, therefore, bad loans. When a customer seek litigation against such bank, what is the precedence for determining damages or what is the "measuring stick" for determining the amount of damages owed?
Show More
Show Less
Ask Your Own Real Estate Law Question
Answered in 1 hour by:
4/26/2018
Infolawyer
Infolawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 63,680
Experience: Experienced lawyer
Verified
Greetings! I am a legal expert on the site and am working on your question.
Ask Your Own Real Estate Law Question
On review of your facts, you have a good case.You have a few options. Let me outline them. You can pursue a complaint in civil court. You may sue for losses suffered plus costs and interest. You can also file a complaint with the attorney general office. You can threaten these options before pursuing and use for leverage. local counsel can also get involved! A lawyer letter alone can often bring about a settlement as the other side realizes that you are serious and gets concerned about its risk and legal fees.If you sue in court you may end up with a judgment. The judgment generally allows you to levy on bank accounts, lien real estate and work with the sheriff office civil enforcement division. Many lawsuits result in settlement - which expect the judge to encourage.You stand to recover not only your actual losses (compensatory damages) but also interest, costs and legal fees. on occasion special damages (punitive damages) are also available.martindale.com and findlaw.com are both excellent lookup directories. Both highly rated. Both used by lawyers. Easy to search and find local options.Please let me know if the reply is acceptable by responding “yes” or “acceptable”
Ask Your Own Real Estate Law Question
Customer reply replied 3 months ago
what are the considered acceptable losses in this given circumstance
Direct financial loss resulting from misconduct. Needs to be quantified and not speculative.
Ask Your Own Real Estate Law Question
Here would be the difference between the forced refinance and more prudent options.
Ask Your Own Real Estate Law Question
Please let me know if the reply is acceptable by responding “yes” or “acceptable”Please click the 5 star (*****) rating - it’s the only way I receive credit by the site. Leaving a bonus after rating is always very much appreciated. if you dont see the rating button you can just type back “5 stars” Thank you!
Ask Your Own Real Estate Law Question
Customer reply replied 3 months ago
is it the amount of the loan or what is it?

You can ask for that, but more realistically if the loan terms got worse due to refinance, then it would be the loan before refinance less loan after refinance, plus costs and legal fees.

Infolawyer
Infolawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 63,680
Experience: Experienced lawyer
Verified
Infolawyer and 87 other Real Estate Law Specialists are ready to help you
Ask your own question now
Customer reply replied 3 months ago
what's the precedence for the given circumstance, exactly what are the courts sayin the damages are?

It would normally be what I just mentioned, and in rare situations can void the entire loan if conduct egregious. It is looked at on a case by case basis.

Ask Your Own Real Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a real estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Infolawyer Your Own Question
Infolawyer
Infolawyer
Infolawyer, Lawyer
Category: Real Estate Law
Satisfied Customers: 63,680
63,680 Satisfied Customers
Experience: Experienced lawyer

Infolawyer is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

It worked great. I had the facts and I presented them to my ex-landlord and she folded and returned my deposit. The 50 bucks I spent with you solved my problem.

TonyApopka, FL

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

< Previous | Next >

Meet the Experts:

Barrister

Barrister

Lawyer

12,142 satisfied customers

17 years real estate, Realtor. Landlord 26 years

Infolawyer

Infolawyer

Lawyer

63,680 satisfied customers

Experienced lawyer

Ray

Ray

Lawyer

8,253 satisfied customers

Texas Attorney for 30 years dealing in real estate

LawTalk

LawTalk

Attorney

6,208 satisfied customers

I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

Dimitry Esquire

Dimitry Esquire

Attorney

5,526 satisfied customers

JA Mentor, multiple jurisdictions, specialize in business/contract disputes, estate creation & admin

Ely

Ely

Counselor at Law

4,998 satisfied customers

Qualified attorney in private practice including business, family, criminal, and real estate issues.

P. Simmons

P. Simmons

Lawyer

3,572 satisfied customers

12+ yrs. of experience including real estate law.

< Previous | Next >

Related Real Estate Law Questions
If a bank engage in a property flip fraud where they force
if a bank engage in a property flip fraud where they force customers into refinancing rather than line of credit so they can artificially inflate the value of the properties in the area for futures cu… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
Please inform me of Rating on T.V. advertisement about
Please inform me of Rating on T.V. advertisement about SnapFlipCA.com.. Pleas let me know if it is reuptable, trusted Program? when you find investors to sell a house to? or invest time & money to hou… read more
Attyadvisor
Attyadvisor
Doctoral Degree
8,365 satisfied customers
How can we determine a good value for selling our house as
How can we determine a good value for selling our house as is after a major flood? We really might want to sell and just take that money to get another smaller home.… read more
N Cal Atty
N Cal Atty
Doctoral Degree
59 satisfied customers
My name is ***** ***** Akbar. I am currently living in a
Customer: My name is ***** ***** Akbar. I am currently living in a house that I purchased 25 years ago. About 10 years ago we refinanced with James B Nutter. Subsequently, HSBC purchased our mortgage … read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Thinking about suing our mortgage company (bank.) We had house
Thinking about suing our mortgage company (bank.) We had house built and due to cost overruns by builder final price was way over budget. Consequently LTV was very high and we were concerned we didn't… read more
Law Pro
Law Pro
Doctoral Degree
19,000 satisfied customers
I had a home equity line loan in 2008, the appraisal
I had a home equity line loan in 2008, the appraisal came back at 350 k I recently tried to refiance and got another appraisal it came back at 262 k , the house has been recently sided and is in bette… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
31,012 satisfied customers
I am trying to close the gap between my houses value and what
I am trying to close the gap between my house's value and what I owe. It was purchased for $349K, went up in value to $600K, then plummetted down to $370K. It is currently inching up to $400 again. I … read more
socrateaser
socrateaser
1,031 satisfied customers
We were involved in mortgage fraud in 2005 (purchased Oct.
We were involved in mortgage fraud in 2005 (purchased Oct. 2004 for 600K, April 2005 refinance appraisal was 950K). Broker went to jail, appraisers lost licensure but we have had no recourse. Attempte… read more
Dimitry Esquire
Dimitry Esquire
Attorney
Doctoral Degree
5,526 satisfied customers
I have 3 separate property loans through the now failed WAMU.
I have 3 separate property loans through the now failed WAMU. Each loan has issues: Loan 1 has an inflated appraised amount of over $40,000 Loan 2 also has an inflated appraised value and the mortgage… read more
socrateaser
socrateaser
1,031 satisfied customers
Hello, My name isXXXXX have an issue with frozen/suspended
Hello, My name isXXXXX have an issue with frozen/suspended HELOC. My HELOC was frozen due to what bank alleged was a significant loss of equity. Subsequently I discovered that the house did not lose e… read more
Alex Esquire
Alex Esquire
Managing Attorney
Doctoral Degree
153 satisfied customers
Bank of America has refused my mortgage application. They charged
Bank of America has refused my mortgage application. They charged $395.00 for an appraisal. Now they are saying I must make $12,000 worth of repairs to be considered for a mortgage, and I will not get… read more
LegalKnowledge
LegalKnowledge
Juris Doctor
31,012 satisfied customers
if a home you did an appraisal for (refinance) in 2007 is being
if a home you did an appraisal for (refinance) in 2007 is being foreclosed, can they sue the appraiser.… read more
Infolawyer
Infolawyer
Lawyer
Doctoral Degree
63,680 satisfied customers
I am one of 40 plaintiffs in a suit against a developer alleging
I am one of 40 plaintiffs in a suit against a developer alleging he developer artificially inflated the value of raw land that all plaintiffs bought. There were insider sales and manipulated reporting… read more
PaulmoJD
PaulmoJD
Attorney At Law
Doctoral Degree
106 satisfied customers
Hi We refinanced our home in 2006...as it turns out the appraiser
Hi We refinanced our home in 2006...as it turns out the appraiser missed the fact that our home had an addition that was built without a permit, therefore the house aprraised many thousands more than … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
My Question is does the state of georgia allow for the assignment
My Question is does the state of georgia allow for the assignment of contracts. Through realestate by using investors purchase agreement. Basically, by using the purchase agreement to lock up the prop… read more
Maverick
Maverick
Doctoral Degree
6,338 satisfied customers
I work in a real estate appraisal firm. We are required to
I work in a real estate appraisal firm. We are required to keep our appraisals and our files for five years for each property. After the five years can a lender come back and try to sue for somehting … read more
Andrea, Esq.
Andrea, Esq.
Attorney
Post-Doctoral Degree
10,512 satisfied customers
Thank you for your time I have 1 primary home and 1 investment
Thank you for your time I have 1 primary home and 1 investment property in Fairfax Va in March when the interest rates where in the mid 4% range. I started making inquires to refinance both of my prop… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers
After starting an renovation project, I found that the legal
After starting an renovation project, I found that the legal appraisal for the lending, bank, etc was incorrect. The property inspection did not pick up on this. This error further decreases the value… read more
Phillips Esq.
Phillips Esq.
Attorney
JD
20,520 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x