Bait and Switch Questions
My mortgage lender has forced me to remove two credit disputes as a condition for processing the loan. Do I have any legal recourse? Is this considered bait and switch?A mortgage lender has the right to make any demands that they see fit when approving a loan as long as the demands are legal. The lender isn't required to give just anyone a loan and if they want you to drop the disputes, they have that right to request it. It doesn't appear that the lender is forcing you to do anything. They are just making it clear that this is a stipulation to gain the loan.
The lender can change the demands of the loan agreement or add additional demands up until the loan agreement has b4een signed at closing. The lender isn't bound by the contract until the closing and the loan has been given to you.
If the lender denies the loan, your only chance of legal recourse would be to prove the lender denied the loan based on discrimination or malicious reasons. However, if they deny the loan based on the lack of your qualifications, any money that you lose up until this point is considered an added expense of attempting to gain a loan. When attempting to borrow money from a lender, you can expect to comply with the demands of the lender in order to secure the loan.
Why is it not false advertising or bait and switch when a company intentionally misleads a person by modifying a loan just to raise the rates and foreclose? Can I sue?There have been some people who have sued for unfair and deceptive business practices in regards to the modification lies. There are multiple cases that should these lenders lie to the borrowers and take their time to make the modifications. During that time, the borrowers are repeatedly asked to submit the same forms again and again. At this point, the lenders either deny or foreclose. There are no laws set into place that require these companies to modify the loans. For this reason, each situation must be examined to determine if there is a case against the lender for false advertisement or bait and switch.
I purchased a vehicle at a dealership yesterday but found an ad they are running for 2k less than I bought it for? Do I have any rights in this situation? Is this considered bait and switch?This wouldn't be considered bait and switch unless you went to the dealership and asked for the deal mentioned in the ad and the dealership told you they were out of vehicles attached to that ad. They would have to knowingly run the ad with the full intention of not selling the vehicles for that amount. If this didn't happen, the dealership didn't commit bait and switch. You merely walked in off the street looking to buy a car, signed a deal and left, only to find the ad at a later date. However, if you still think the dealership committed bait and switch in this situation, you can hire an attorney and file suit against the dealership. You could also file a report with the Georgia Attorney General's office. When you file a complaint, an investigation will take place to determine if the dealership has committed bait and switch or unfair or deceptive practices.
How can I prove a "bait and switch" that was inflicted upon me when I refinanced my home with my mortgage company?Without having the proof in writing, you can use your own words as proof. While an oral testimony is enough to take to court, look over your paper work for any notes or figures the lender may have jotted down that would back up your testimony. During the Discovery process, you can request a multitude of documents that may back up your bait and switch claim. If you are unable to find any proof in writing, you can still build a case on your oral testimony.
Bait and switch is an illegal tactic that lures customers in to purchase a specific product, only to be told that product isn't available but the customer is shown a more expensive product to take the place of the original offer. If you are a victim of bait and switch or have questions regarding bait and switch, you should ask an Expert to assist you.