Can i sue bank of america?

I applied for a fha 203b with repair escrow home loan with bank of america December 2011.I am a first time home buyer. I found a house shortly after, put offer in and it was accepted in December as well. It's now July 16, 2011 and I still have no closing date. I have nothing but problems with bank of america. I have had to pay 15 extensions to the selling party HUD @ 375.00 dollars each not counting the 2.00 for the cashiers check. The house is getting ready to be put back on the market, and they are going to keep my $1000.00 earnest deposit. If we do close soon My house payments are going to be 200.00 more than expected due to the exemptions falling off the taxes because we didn't close before March of 2011. Bank of america had me refinance my car loan because the debt to ratio with the taxes going up. They ask for paper work and I send it in the same day if possible. They will then come back a week or to later and say the paper work is wrong or they need something else. I dint want to give up on the house, I am a single mother and have a child with medical disabilities who needs his own restroom and this house is perfect for us. I am in a mess I had to be put on anti stress medication due to all this, I can't sleep I cry everyday. I am now broke and am struggling to pay my bills because I have to pay for the extension so I don't loose the home. I know most people would have gave up by now but if I do I am losing well over 50,000 in equity and money for extensions, earnest deposit and 15,000.00 in NSP funds. Money for inspection, appraisal. I have left messages with supervisors, ETC they never return my calls. My papers have been transferred 3 times to different underwriters. They say im approved and I should have a closing date in a few days then they come back and say I am approved with conditions. The conditions I have to have a $3,500.00 gift funds at closing. I don't even have a closing date! What should I do ? I am about to loose the house and my money I have invested in it! Need help please.


I have saved emails stating this information. Proof of almost everything I have been put through. Their is alot more to this story than I can wright.

1 Answer

  • Joshua
    Lv 5
    9 years ago
    Favorite Answer

    Do you have documents that suggest that this should not be the situation? Do these documents have any form of disclaimers. If you have actual proof that employees of The Bank of America have been making promises they cannot keep and are in fact screwing you then I would say go to a lawyer and talk to them about what you can do. Take all documentation with you to the lawyer, DO NOT INFORM the bank you are seeking legal action. If they have done something questionable you do not want to give them a chance to clean up a trail or a fault of their own. Look into a lawyer who specializses in this type of case and look at their record, and then talk to them and they will let you know if they can even help you. A Bank chain like this is hard to go after, they have a million disclaimers and different protections that you do not even know you agreed to. You average run of the mill lawyer will not help you in this case, so make sure you do your research if you plan on going after them. Good luck this is a tough sell. Taking on the Bank of America will not be easy, but a lawyer who specializses in this will be able to help you much more than anyone on here.

    Okay I suggest you print off EVERY SINGLE document even if you think its not applicable and organize it, and then research out a good lawyer who is suited for this type of case and then schedule a meeting with them, bring the documents, and the lawyer will tell you if they can take on your case and go after them. Bring every single thing you can think of. Any documents you signed, anything.

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